NBP Provider
The National Bank of Poland (NBP) is the central bank of the Republic of Poland, responsible for issuing currency, controlling monetary policy, and ensuring the country’s financial stability. The NBP regularly publishes exchange rate tables that contain information about the average currency exchange rates, which are utilized for accounting purposes.
As part of the implementation package being prepared for the Dynamics 365 Finance and Operations (D365 F&O) system in Poland, it is possible to configure the NBP as a banking service provider. Moreover, the package enables the automatic download of current average currency exchange rates from the NBP website.
This functionality streamlines the use of the latest currency exchange rate data in the D365F&O system, allowing for precise accounting and effective financial management.
The NBP currency rates add-on in D365 enables automatic updates of current exchange rates. This facilitates the maintenance of accurate currency exchange rate information in the system.
It is essential to use up-to-date exchange rates for accurate financial calculations. This functionality enables companies to manage multi-currency transactions efficiently while avoiding errors that arise from using obsolete exchange rate data.
The currency market can be dynamic, with exchange rates subject to change. Thanks to the NBP currency rates add-on, D365 can adapt to these changes, which is essential for companies conducting international transactions.
The add-on enables the automatic update of currency exchange rate data without the need for manually entering new information. This saves time and reduces the risk of human errors.
Up-to-date exchange rates are essential for accurate financial reporting. The NBP currency rates add-on in D365 helps maintain data accuracy, which is especially important in the context of reports involving multiple currencies.
In international transactions, compliance with regulations often requires using current exchange rates. The NBP currency rates add-on in D365 helps with this compliance.