CNH and CNY Currency Setup AX 2012 R3

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What is the best practice for the setup of Chinese currency to allow for CNH and CNY transactions on AX?

CNH is an non-ISO currency and not available on the exchange rate table setup

CNY is the ISO currency

The current setup has the CNY currency with the currency code of CNY and the CNH has the to currency code of CNY in the currency form

The company currency and the reporting is CNY on the Ledger

And CNH and CNY are setup with the same exchange rate to USD

But on the MR financial reports when the currency is requested to translate to USD the rate of translation is all wrong

Example is the CNY is 68K and the USD translation on MR is 169K USD correct translation would be 5K USD

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Ludwig Reinhard Microsoft Employee on at

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RE: CNH and CNY Currency Setup AX 2012 R3

Hello LisaS,

I did not fully get your currency setup. What is the accounting currency that you setup and what is the reporting currency setup? You mention that you convert MR reports in USD. What currency conversion rules have you setup for your ledger accounts in the Chart of Accounts?

Would be great if you could provide some additional information.

Many thanks and best regards,

Ludwig

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RE: CNH and CNY Currency Setup AX 2012 R3

CNH and CNY are the currencies to be setup

CNH and CNY are Chinese Yuan

CNH is the off shore and CNY is the on shore

Both represent the Chinese currency and both can be associated with Chinese trade

The reporting and accounting currency for the company is CNY

CNH is not an ISO related currency allowed to be setup in AX 2012 R3

If you try to add or select this currency, you will get the error message

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nunomaia 23 Moderator on at

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RE: CNH and CNY Currency Setup AX 2012 R3

The scenario that you are describing it is a common practice to setup 2 currencies for Chinese implementations: On shore currency and off shore currency. Because they have different exchange rates.

By default you only have the CNY currency, so you must setup a new currency General ledger > Setup > Currency > Currencies.

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RE: CNH and CNY Currency Setup AX 2012 R3

Yes, I added the currency CNH in the Currency, but when it you get an error on the currency code The value 'CNH' in field 'Currency code' is not found in the related table 'ISO currency codes'.

So what do you do at this point?

Have 2 currencies with the currency code CNY?

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nunomaia 23 Moderator on at

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RE: CNH and CNY Currency Setup AX 2012 R3

create a dummy ISO code for CNH in ISO currencies codes

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Ludwig Reinhard Microsoft Employee on at

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RE: CNH and CNY Currency Setup AX 2012 R3

Hello LisaS,

Is there a Exchange rate difference between CNH and CNY or do both of these currencies have a 1:1 relationship?

If there is a 1:1 exchange rate relationship can't you setup a new currency CNH that refers to the ISO currency CNY in the currency setup form?

Ludwig

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RE: CNH and CNY Currency Setup AX 2012 R3

That is what we did.

The consolidated company reports are in USD utilizing MR

The same exchange rate was setup for both currencies

The result is that when you request the financials in USD in MR, they are all wrong

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Ludwig Reinhard Microsoft Employee on at

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RE: CNH and CNY Currency Setup AX 2012 R3

Hello LisaS,

What Management Reporter version have you installed and what Dynamics AX Version do you use?

In addition, can you let us know what currency conversion rules have been setup in your Chart of Accounts?

Can you specify what do you mean by saying that the results are all wrong? (Maybe you could post some screenprints?)

In addition, can you probably take a look at the following whitepaper that gives some additional insights on currency translation and consolidation in MR (www.microsoft.com/.../details.aspx).

Best regards,

Ludwig

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nunomaia 23 Moderator on at

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RE: CNH and CNY Currency Setup AX 2012 R3

Like I have mentioned before, I would setup a dummy ISO currency code, because you have 2 different currencies. In china you can have 2 or 3 currencies with different valuations and exchanges rates.

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RE: CNH and CNY Currency Setup AX 2012 R3

Hello

Did you find any solution to the issue in the end?
We are experiencing the exact same issue.

Before - in AX2012 we solved this by adding the record in the ISOCurrencyCodeTabl (table without a form) However this seems not to be the cleanest way to resolve this.

Thanks a lot!

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