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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Foreign currency
Microsoft Dynamics AX (Archived)

Foreign currency

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Posted on by Richard Spice 110

Hi,

I am a newbie to MS AX!

We are using AX 2009, when creating a new purchased item I am required to enter a purchase price and a cost price. is it possible to enter a purchase price in a foriegn currency (i.e. Euro) and the cost price in the local currency (i.e. Stirling)?

 

Cheers

Richard

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  • Suggested answer
    M.Aamer Profile Picture
    M.Aamer on at

    Hi Richard,

    Microsoft Dynamics AX gives you option to Purchase an item in a foriegn currency, and could assign Misc.Charges in local currency.

    The mechansim working as the following:-

    The PO created in a forigen currency

    The packing slip transaction is posted in local currncy by the equivilant amount (Purchase Order Price in foriegn currency * Exchange rate)

    The invoice transaction is poste in foriegn currency to be able to pay the vendor in his currency, and apply the posting concept of reversing the (un-invoiced inventory, and Undocumented liablity) and Debiting the inventory account, and crediting the payable account.

    Regards

  • Suggested answer
    Community Member Profile Picture
    Community Member on at

    Richard,

    Purchase price can be anything you select but the item costing is always been maintained in the company's default currency.

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