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Answered

Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

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Posted on by lmai 2,432

Hi All, 

I have 920 transactions that I have successfully uploaded into AX through GL journal (screenshot 1).  When I tried to validate the journal, I had the currency error (screenshot 2).  My journal is EUR currency.  I have the currency set up (screenshots 3 & 4).  All of my transactions have the dates range within October 2019.  Screenshot 4 has a start date on the exchange is October which covers all dates within October, or does it matter since it's a GL journal instead of the AR or AP.  Does anyone have a suggestion on how I can fix this exchange error? Thanks so much!

2860.Journal.png

5228.CUrrency.png

Currency-set-up.png

Currency-exchange.png

  • lmai Profile Picture
    lmai 2,432 on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Yes, I'm awared of the accounting practices and yes the invoices are recorded somewhere else.  Thanks, Ludwig, for the recommendations.  I appreciated it. One voucher is ok.  I'm able balance it by day and uploaded it.

  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Hello Kim,

    You are right with the voucher and your amounts might seem to balance before posting.

    Yet, common accounting practice does not allow recording different invoices with the same voucher.

    What kind of transactions are these?

    Do you record invoices somewhere outside and need to create the vouchers in AX?

    Before continuing with this kind of transaction / voucher, I would highly recommend that you double check with your accounting team whether this kind of posting is ok for them.

    Also think about how you want to pay the invoices.

    Do you plan to pay them later on in a vendor payment journal?

    If this is the case then the way how this voucher is uploaded won't allow you doing that!

    Best regards,

    Ludwig

  • lmai Profile Picture
    lmai 2,432 on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Hi Ludwig,

    Although this journal has many lines, it's actually one journal which adds up to:

    AR  495,609.60 (debit)

    VAT 11,025.6 (debit)

    Sales  506,635.20 (credit)

    It's the same way we upload the Payroll transactions.  All debits equal credits.  The system creates one voucher.  We just want to get the data in the system to run a report as a test.  Thanks

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Hello Kim,

    I can see that you use a single voucher (No. GL...31) for recording multiple invoices.

    The way how the voucher is setup does not seem to make sense to me because in the invoice tab we have a special field for the invoice number field where you should add the number that you added in the descriptive field.

    Also the offset account is missing.

    Rather than posting all against a single vendor account, post each line - that is each individual invoice - in a separate voucher.

    The accounting standards I am familiar with do not allow posting multiple invoices in a single voucher.

    Would be great if you could change your upload file correspondingly and try that again with a different way how those invoices are recorded.

    Best regards,

    Ludwig

  • lmai Profile Picture
    lmai 2,432 on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Yes, this is right.

    All the transactions on the 2nd screenshot are in EUR.  The accounting currency for this legal entity is EUR.  The reporting currency is USD.  Thanks

    415734.Error.png

    415734.Error.png

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Hi Kim,

    So after uploading the Excel data you still get the message that the vouchers don't balance.

    Is that right?

    Can you share details of the new error message as well as details of the uploaded transactions?

    Many thanks,

    Ludwig

  • lmai Profile Picture
    lmai 2,432 on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Hi Ludwig,

    The rounding issue is now resolved

    The accounting currency and reporting currency differences issue remains.  I have used the Post and transfer option, but "No vouchers in the journal can be posted or checked".   So it didn't work.  

    Thanks

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    I see.

    Have you tried the 'post and transfer' option and/or tried to apply rounding in Excel before uploading the data?

  • lmai Profile Picture
    lmai 2,432 on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Should I convert the data from EUR to USD (Parent company's currency is USD), then upload the data as USD?  

    If the Oanda is used, the checkmark on the Reference currency for triangulation on or off wouldn't matter, correct? 

    Thanks!

  • lmai Profile Picture
    lmai 2,432 on at
    RE: Transaction currency and reporting currency are different when I tried to upload a GL journal entry.

    Hi Ludwig,

    Triangulation is not applicable for us, but the box Reference currency for triangulation is checked as default.  I'm not sure if there is a calculated/think through default.

    There was a post suggesting to check on another currency that you don't use as Triangulation and come back to the EUR and check it off.  It did not do that for EUR. It didn't take off the checkmark Reference currency for triangulation for EUR.

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