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I have an issue where trying to run the Foreign Currency Revaluation in the AR module. I get an error that states "Account number for transaction type Exchange Rate loss does not exist". I have checked "accounts for automatic transactions" and added an account for Exchange Rate Loss. I have also checked GL > Setup > Currency > Currency Revaluation Accounts, here I populated accounts for AUD currency and USD currency, I still get the error. Please advise.
(AX 2012 R2)
Anyone have any idea on this? This is time sensitive as our finance team needs to complete this task by EOD.
I notice you can also set these accounts at G/L -> Setup -> Ledger, at the bottom of this form.
Thanks for your reply. Unfortunately, I have already populated accounts here as well.
Go to G/L -> Setup -> Ledger. Under 'Account structures', make a note of the Account structure(s) listed.
Go to G-L -> Setup -> Chart of accounts -> Configure account structures.
Find the Account structure(s) you noted in the first step. Are they Active? Does one of them contain the account you think this exchange rate loss should be posting to?
I just checked where you suggested. All account structures are indeed active, also, the account that the exchange rate loss should post to is define there. It is also set to allow blanks for all dimensions.
Running out of ideas now....
I assume on the Currency revaluation accounts form, the 'Ledger' in which you have set these accounts is the right one.
At G/L -> Setup -> Ledger, is the Accounting currency one of USD or AUD? If not, have you set up exchange gain/loss accounts for that currency.
When you run the Revaluation job, can you use the Select to run it for transactions in one currency at a time to determine which currency is causing the problem?
Thanks for the suggestion. I checked the ledger and the accounting currency is USD. I also doubled checked and made sure gain/loss accounts were populated again anyway.
I followed your suggestion to try and narrow down the issue and found I was able to run the revaluation job using the AUD currency. However, when I tried with the USD currency I got the same error. So I can tell that it is definitely with the USD currency but I am unsure what to check next. Any ideas?
Hey is something interesting I found. When I looked at the voucher for the posted AUD revaluation it is using the account that is define under "Ledger" Unrealized loss. This is NOT the same account that I set up under GL > Setup > Currency > Currency revaluation accounts (I picked a different one quickly because it is a test environment). This leads me to believe that I am missing the set up somewhere for USD.
Is there a place to define unrealized USD (it is not the account currency for the entity).
Maybe you could:
1. Run another currency evaluation in Contoso
2. Look at the voucher transaction from Origin to trace all GL, subledger and sometimes temporary sub-subledger accts.
Sometimes there are temporary summary accounts in between the revaluation (sometimes acct pending approval, then offset approved transaction acct), before the transaction finally posts.
Check the temp accounts in between.
Unfortunately, I do not have access to a contoso environment. I appreciate your tip though, that is good thinking.
If the accounting currency of the company is USD, do you really need to revalue USD customer transactions?
I suppose not but I would still like to understand why it is not working :-)
I'd like to understand what it is trying to do...
"This customer owes 50 USD. I'm going to revalue that at the current exchange rate for USD. Oh, look, the exchange rate is 1. Again."
Go to GL > Setup > Ledger and add the main accounts for Realized Gain/ Loss and Unrealized Gain/Loss as shown in the below screenshot. This will solve your issue.
Thanks for the suggestions Chandu but those accounts are already populated. Also, this revaluation works for other companies.
So if you have the option to ask Microsoft to investigate, you could try that. They might suggest a fix for your scenario.
The only reason I mention it is there is a hotfix which is described thus:
The error message "Account number for transaction type Exchange rate gain does not exist" is shown when a user runs the Foreign currency revaluation process in the Accounts payable and Accounts receivable modules.
The changes in this hotfix include adding logic to find the previous ledger dimension for a currency revaluation reversal.
It is included with RTM CU7, but not R2 CU7 (and in any case, you don't have any CUs!). An MS engineer would most likely be able to determine if it applied in your scenario.
The hotfix is KB2912586. I got the description from PartnerSource.
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