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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Currency setup for a s...
Microsoft Dynamics AX (Archived)

Currency setup for a specific requirement

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Posted on by Hichem.Chekebkeb 3,371

Hi all,

I have the following scenario :

My customer has all its invoices in a currency (USD) and its expenditures are all in another currency (EURO).

I am a bit confused which one to set as an Accounting currency.

Could you please help me on this?

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  • Verified answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 299,397 Super User 2025 Season 2 on at
    RE: Currency setup for a specific requirement

    Hi Hichem,

    This depends on local requirements and regulations. In the Netherlands it would be possible to have or the EUR the USD as accounting currency. It depends on several factors like possible important loans in a certain currency to not have too many exchange rate results. You should talk with the accounting manager of the customer.

  • Hichem.Chekebkeb Profile Picture
    Hichem.Chekebkeb 3,371 on at
    RE: Currency setup for a specific requirement

    This question is actually issued after long discussion with the customer.

    As their gov. regulations are not yet stable, I think, we may consider going for less pain option as you said for ex: "A currency that reduces exchange rates".

    Since currency is a practically irreversible setup. I should spend more time discussing things with customer.

  • André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 299,397 Super User 2025 Season 2 on at
    RE: Currency setup for a specific requirement

    There is an option in AX2012 where it is possible to change the accounting currency. It will convert the amounts and possibly will add some rounding postings. To be honest I would indeed spent more time with the customer and try to choose the correct currency from day one.

  • Hichem.Chekebkeb Profile Picture
    Hichem.Chekebkeb 3,371 on at
    RE: Currency setup for a specific requirement

    I actually know this option, Microsoft has provided this "mysterious" option, but (as far as I know), It has not proven its efficiency.

    Thanks André,

  • Viktor Kralevski Profile Picture
    Viktor Kralevski 115 on at
    RE: Currency setup for a specific requirement

    Hi all, I realize it's a very old thread, but the challenge we have is very current one :). Switching from one accounting currency to another. Has Microsoft provided any options (for AX2012) since then which would help make the switch from one accounting currency to another, or we would have to go with new company, migration, and new setup?

    Thanks,

    Viktor

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