Foreign Currency Revaluation in Microsoft Dynamics AX 2012

Posted on: September 24, 2015 | By: Jarrod Kraemer | Microsoft Dynamics AX/365

The purpose of a foreign currency revaluation is to convert a company’s foreign legal entities to its own reporting currency.  In AX you will see amounts in transaction currencies and amounts in reporting currencies.  The amount in transaction currency will be in the currency that your legal entity is setup with and primarily used for recording transactions.  The reporting currency will be the currency of the parent company, and as the name implies, the currency that your company will report on.

To execute a Foreign Currency Revaluation in AX follow these steps:

General Ledger

1.      Go to General Ledger>Periodic>Foreign Currency Revaluation

2.      You will first want to select your balance sheet accounts, so enter in an account range on the selection

3.      Choose the dates based on rules for Balance sheet accounts

4.      Make sure your currency code is in your reporting currency.

5.      Click Ok to run the process, or run it as a batch job

6.      Run the revaluation for Income Statement Accounts

7.      Fill in dates based on rules and double check your reporting currency

Accounts Payable

1.      Go to Accounts Payable>Periodic>Foreign Currency Revaluation

2.      Select the Foreign currency revaluation button

3.      Fill in the considered date.  (This date is the date of the transactions that you want to revalue through) and select the date of rate.

4.      Select Posting next to Dimension and select an exchange rate type of closing.

5.      Execute the job, or run it as a batch

Accounts Receivable

1.      Go to Accounts Receivable>Periodic>Foreign Currency Revaluation

2.      Select the foreign currency revaluation button

3.      Fill in the considered date.  (This date is the date of the transactions that you want to revalue through) and select the date of rate.

4.      Select Posting next to Dimension and select an exchange rate type of closing.

5.      Execute the job, or run it as a batch

This will make all the adjustments that you need!

For additional information, or if you have financial questions about entities in foreign currencies within AX, please feel free to reach out to us at info@loganconsulting.com or (312) 345-8817.

All the best!
Logan Consulting
www.loganconsulting.com



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