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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Changing/switching rea...
Microsoft Dynamics AX (Archived)

Changing/switching realized and unrealized gain/loss account?

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Posted on by Community Member

Hi,

We started running the currency translation for AR, AP, Balance Sheet and Income statements. We have done this translation just for one month. Now, we realized we need switch the revaluation accounts setup in the ledger? Can i simply switch the accounts or do i need to reclassify the balance between the accounts and switch it? If i reclassify the amounts, will there be any issues in running translation for any future months?

Or, can i just reclassify the amount between those 2 accounts on ledger currently, and configure new accounts going forward?

Thanks,

RJay

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  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi RJay,

    Did you mix the unrealized and realized profit/loss accounts?

    Wouldn't it be sufficient to switch (change) the account names?

    Thereby you could avoid having to move balances from one account to the other and I believe that this might be the easiest and fastest way to get this corrected.

    Hope this helps.

    Best regards,

    Ludwig

  • Community Member Profile Picture
    Community Member on at

    Yes, Dr. Ludwig. The accounts were interchanged at the ledger. When you say change the names, i am assuming that you want to leave the account number as is and change the name of it.

    The accounts were in a series like the one below currently:

    3xxxx - Realized gain/loss

    6xxxx - Unrealized gain/loss

    But, we want to keep the 3xxxx to unrealized as this is a balance sheet account and 6xxxx to be a realized gain/loss as an income statement account

    Appreciate your help!

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Rajinikanth Jayaseelan,

    If you want to keep the account numbers you can simply change the setup of the unrealized/realized gain/loss accounts in GL.

    Please ensure that you make those changes in the ledger form and the currency revaluation account form. The latter one is only necessary if you specified separate accounts for the different currencies you have.

    Once you have changed those accounts you need then to shift the account balances between the realized and unrealized gain/loss accounts.

    AX won't do that for you as the changes that you are making to the realized and unrealized gain/loss accounts take immediate effect.

    Best regards,

    Ludwig

  • Community Member Profile Picture
    Community Member on at

    Hello Dr. Ludwig,

    I need another small clarification in re-classing the balance. I attached the screen shot which shows the currency in CNY, the "Amount in transaction currency" and "Amount" is 0. There is value only in the "Amount in reporting currency".  I understand that this is the way, currency translation adjustments getting recorded.

    Now, to re-class the balance can i just sum this amount from the reporting currency column and record it as a regular USD currency transaction to the other account and vice-versa. Will this create any other issue for me?

    report_2D00_currency.png

  • Verified answer
    Community Member Profile Picture
    Community Member on at

    The cleanest way is to only reverse the foreign currency revaluation transactions that are posted. But, this needs a minor code change to have this performed. I did that and verified in test to be working 100%. Please reach out if any one struggling with this scenario. Would be glad to help!

    Thanks,

    RJay

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