The currency revaluation is a business needs in organizations which perform transactions in more than one currency, and need to revaluate the balances between the company default currency and other currencies.
The exchange rates in MS Dynamics AX 2009 have been enhanced in the new version of MS Dynamics AX 2012 which is known as currency revaluation. Currencies revaluation management in MS Dynamics AX 2012 has basic configurations, setup, daily transactions, and monthly procedures.
In this post I will explore configurations, and setups which are required in the deployment phase before going live, the application consultant and controller working together in the design phase to identify these required information.
The first setup is create the currencies codes, symbol, currency code, and rounding
Set the legal entitiy default currency
Create exchange rate types; MS Dynamics AX 2012 gives facility to have more than one type for exchange rates
Currency revaluation accounts, where identify the relevant account for realized gain, and loss, unrealized gain, and loss.
|Realized loss||The ledger account to which realized losses in the selected currency are posted.|
|Realized profit||The ledger account to which realized gains in the selected currency are posted.|
|Unrealized loss||The ledger account to which unrealized exchange adjustment losses for open transactions, in the selected currency, are posted.|
|Unrealized profit||The ledger account to which unrealized exchange adjustment gains for open transactions, in the selected currency, are posted.|
Setup the ledger accounts to apply the currency revaluation (adjustment) when run the revaluation jobs, on the ledger account setup mark foreign currency revaluation, and monetary check box as well
User group: DynamicsArabia