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Bank Exchange adjustment (FIFO or LIFO) issue with reporting currency D365 Finance

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Posted on by IP-25090710-0

Hello,

Is there anyone who knows the reason why 'Bank Exchange adjustment (FIFO or LIFO) process' (specific to Poland) finished with a huge amount posted in the reporting currency? The transaction currency is the same as the reporting currency, and for both, we have the same type set in the system. This entry makes the transactions in reporting currency not balance for this bank account.

Is this a known issue?

I would appreciate any tips.

It is for:

Installed product version : 10.0.43 (10.0.2177.175)Installed platform version : Update67 (7.0.7521.258)

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Dynamics 365 Finance

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CA Neeraj Kumar 4,990 on at

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Bank Exchange adjustment (FIFO or LIFO) issue with reporting currency D365 Finance

Hi,

Telling the root cause for the same would be little difficult unless it can be checked thorougly, but to do the correction you can consider two of the processes (first on Sandbox environment)..

Before that please confirm whether this particular setup is already completed in your instance earlier.

https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/dual-currency

Cash and bank management > Setup > Add reporting currency amounts to bank account transactions.

1) Use Reporting Currency Adjustment Journal to correct the amount in the reporting currency

A new journal, the Reporting currency adjustment journal, enables adjustments to be posted to ledger accounts in the reporting currency only. This journal enables posting only to ledger accounts. It doesn't support intercompany, and the currency must be the reporting currency of the legal entity where the journal is posted. When the journal is posted, the transaction currency and accounting currency amounts are 0 (zero), and the reporting currency amount is posted with the amount that is entered on the transaction.

2) Run Periodic task > Foreign currency revaluation

Regards,

Neeraj Kumar

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Community member 6 on at

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Bank Exchange adjustment (FIFO or LIFO) issue with reporting currency D365 Finance

Hi,

Thank you, @CA Neeraj Kumar. I can confirm that the foreign currency revaluation process corrected the wrong amount:

I know from the user that the reporting adjustment journal has been used in the past to resolve this issue, so both workarounds are useful.

Nevertheless, I would still like to know the reason. I ran the wizard to add the reporting currency for the bank account I am writing about, and there were no transactions without a reporting currency (I am referring to the article about changes from 2018: https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/dual-currency).

Besides, we have only been using the D365 Finance app for a short time (since 2023), so these changes should not affect us directly.
Is there any way to prevent incorrect calculations, or are there any reports on this issue that I have missed?

Best,

Iza

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CA Neeraj Kumar 4,990 on at

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Bank Exchange adjustment (FIFO or LIFO) issue with reporting currency D365 Finance

Hi,

Please go through the write-up i have given for similar situation here:

https://community.dynamics.com/forums/thread/details/?threadid=88d30e28-2ca0-f011-b41c-000d3a53ff74

I know this is not the exact issue but similar to this.. since current question is specific to Poland localization.

Regards,

Neeraj Kumar

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