web
You’re offline. This is a read only version of the page.
close
Skip to main content
Community site session details

Community site session details

Session Id :
Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / US GAPP & IFRS Par...
Microsoft Dynamics AX (Archived)

US GAPP & IFRS Parallel Ledgers & parallel posting

(0) ShareShare
ReportReport
Posted on by Enrique Lechuga

Dear Dynamics Community friends,

Does Microsoft Dynamics AX 2012 R3 or Dynamics 365 for Operations have an automatic posting to IFRS and US GAAP ledgers as SAP does?
As far as I know, SAP enables the user to choose, by means of a "checkbox", to post any given GL entry to both ledgers considering the rules and exchange rates required. Is it possible to do so in either Dynamics AX 2012 R3 or Dynamics 365 for Operations?

Your insight will be greatly appreciated. 

Enrique Lechuga

*This post is locked for comments

I have the same question (0)
  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: US GAPP & IFRS Parallel Ledgers & parallel posting

    Hi Thu,

    I noticed that you posted something into the D365 forum as well.

    community.dynamics.com/.../implement-parallel-accounting-ifrs-gaap-in-d365fo

    Let's please keep the discussion there and not mix things up.

    Many thanks,

    Ludwig

  • ThuNgo Profile Picture
    ThuNgo 978 on at
    RE: US GAPP & IFRS Parallel Ledgers & parallel posting

    Hi Ludwig,

    Thank you for your reply.

    Could you explain further about using "allocation schemes"?

    I'm checking but not quite sure how it can help with automatic posting GAAP ledger account when IFRS account is posted.

    As my understanding, the allocation rule on Main account and Ledger allocation rules will take balance from source account (IFRS ledger account) into destination account (GAAP ledger account).

    Best regards,

    Thu

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: US GAPP & IFRS Parallel Ledgers & parallel posting

    Hi Thu,

    You are right. You can have one account for IFRS and another one for local GAAP.

    If you deal with fixed assets then you can link the different fixed asset books and get the parallel postings automatically created.

    For other transactions, you need to identify  the differences between IFRS and local GAAP and then decide first whether you need so -called full or delta postings.

    Based on that you can either make the postings manually or implement an automation e.g. with the help of allocation schemes, powerautomate or a system modification that makes the parallel postings automatically for you if you like.

    Best regards,

    Ludwig

  • ThuNgo Profile Picture
    ThuNgo 978 on at
    RE: US GAPP & IFRS Parallel Ledgers & parallel posting

    Hi Ludwig,

    I know this post is old but can you give more explanation about your 2nd advice?

    "2. The use of separate account-classes. That is, you use a separate section in your COA for incorporating for example IFRS and US-GAAP postings. This can be automized by using e.g. allocation rules, main account allocations and other standard features."

    => Meaning i will have 1 main account for IFRS (6***) and 1 main account for GAAP (G6***)?

    => How can i automatically post the amount for GAAP ledger account when i create a normal transaction for IFRS account? Allocation rule/ Main account allocation rule will take all the balance from IFRS ledger account to allocate into GAAP ledger account at the time i post IFRS account or at month end when i run allocation journal. This is not what i want.

    Thank you.

    Best regards,

    Thu

  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: US GAPP & IFRS Parallel Ledgers & parallel posting

    Hi Enrique Lechuga,

    If there is nothing else open for this thread then it would be great if you could verify the answer to close this thread.

    Many thanks and best regards,

    Ludwig

  • Enrique Lechuga Profile Picture
    Enrique Lechuga on at
    RE: US GAPP & IFRS Parallel Ledgers & parallel posting

    Thank you very much for your valuable help, Lwdwig.

  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: US GAPP & IFRS Parallel Ledgers & parallel posting

    Hello Enirque Lechuga,

    On a related thread, Umesh already posted you some links where you can find additional information on this topic.

    (see: community.dynamics.com/.../215384)

    AX and D365fO do in General support two techniques:

    1. The use of separate so-called posting layers that allow you posting for example local GAAP and IFRS on separate posting layers. Note: Those postings do not happen automatically - except for fixed assets - and you need to make some minior modifications to get them fully automatically posted.

    2. The use of separate account-classes. That is, you use a separate section in your COA for incorporating for example IFRS and US-GAAP postings. This can be automized by using e.g. allocation rules, main account allocations and other standard features.

    Best regards,

    Ludwig

Under review

Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.

Helpful resources

News and Announcements

Dynamics 365 Community Calls Return
Join experts in person to explore low code and AI agents at the Power Platform Community Conference sponsored by Microsoft
Responsible AI policies for the Community

Quick Links

Responsible AI policies

As AI tools become more common, we’re introducing a Responsible AI Use…

Andrés Arias – Community Spotlight

We are honored to recognize Andrés Arias as our Community Spotlight honoree for…

Congratulations to the August Top 10 Community Leaders!

These are the community rock stars!

Leaderboard > 🔒一 Microsoft Dynamics AX (Archived)

#1
Syed Haris Shah Profile Picture

Syed Haris Shah 9

#2
Martin Dráb Profile Picture

Martin Dráb 2 Most Valuable Professional

#2
Community Member Profile Picture

Community Member 2

Last 30 days Overall leaderboard

Featured topics

Product updates

Dynamics 365 release plans