Exchange rate type in expense report issue

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Posted on by Sherwin

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Hi All

I have two legal entities, Both have Exchange rate set up in Ledger form. In Legal entity A, submit of expense report with different currency is happening with no issues. But in Legal entity B, it is throwing error "an exchange rate cannot be found for exchange rate type budget between currencies xyz and zyx on exchange date mm/dd/yyyy". The same set up is in Legal entity B but it still approves. In Ledger form of both legal entities, I have given a default exchange rate in exchange rate type and in Budget exchange rate type I have mentioned as Budget.

Legal Entity A is intercompany and Legal entity B is the main

Am I missing some set up here? Please help

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Sherwin 220 on at

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RE: Exchange rate type in expense report issue

Thank you Dr. Ludwig!
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Ludwig Reinhard Microsoft Employee on at

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RE: Exchange rate type in expense report issue

Hello Sherwin,

Project budgets and ledger Budgets that you can find in the budgeting module are in general only company specific.

That's a current limitation.

If you need that cross-company, I would suggest that you post an idea on the dynamics ideas portal.

When doing that, please let me know because I will vote for that :-)

Many thanks and best regards,

Ludwig
Sherwin 220 on at

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RE: Exchange rate type in expense report issue

Sorry, my question was terribly wrong.

Under project>Budget and forecasting, I have enabled the use budget control. This project belongs to LE B and when I used it in the expense report in LE B it was throwing the error but when I used the same pricect in IC expense it was not throwing the error. So does that mean, the project set up I made(enabling Budget control) is respective to only Legal entity B and does not affect Legal entity A?
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Ludwig Reinhard Microsoft Employee on at

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RE: Exchange rate type in expense report issue

Hi Sherwin,

The exchange rates are actually not company specific and shared across your legal entities.

However, if you use a specific exchange rate type - and the associated exchange rates - in a single legal entity only by assigning the exchange rate type in the ledger form then they are specific for this legal entity.

Best regards,

Ludwig
Sherwin 220 on at

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RE: Exchange rate type in expense report issue

Thank you Dr. Ludwig, so can I take it that Budget exchange rate is legal entity specific? Because the error was thrown only in the legal entity in which the project resides.
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Ludwig Reinhard Microsoft Employee on at

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RE: Exchange rate type in expense report issue

Hello Sherwin,

If you are working with IC projects you need to setup a customer-vendor relationship. Just go into AP or AR and try to identify the IC customer / vendor records in the all customers / vendors list pages.

Then go to the general tab and find the intercompany setup button. Verify that there is an active IC setup. Otherwise, you might not be able to create the IC invoices later on.

Best regards,

Ludwig
Sherwin 220 on at

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RE: Exchange rate type in expense report issue

Hi Ludwig

By adding the exchange rates I am able to approve and you as you rightly mentioned in Project master the Use budget control has been enabled(By removing this also ,I am able to submit). So does it mean the legal entity where the project belongs to, there it requires the exchange rate in Budget right? That would explain why in the other legal entity it would allow me to submit the expense report.

And can you eloborate on the IC Customer_Vendor relationship, where in AX can i verify?

Thanks in advance !
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Ludwig Reinhard Microsoft Employee on at

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RE: Exchange rate type in expense report issue

Hi Sherwin,

Can you test setting up the exchanges rates RON-CHF and RON-EUR also for your budget exchange rate type?

I assume that the IC expense report is related to a project. If my assumption is correct can you also check the project setup and the IC customer-vendor relationships just to be sure that nothing is missing there.

Best regards,

Ludwig
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BorisD 2,826 on at

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RE: Exchange rate type in expense report issue

Hello Sherwin,

It sounds like your missing one step. In the company you have having the issue with Go to GL >Setup > Currency > Currencies Find RON in Currency and make sure Currency code is correct. compare to the company that works to make sure.
Sherwin 220 on at

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RE: Exchange rate type in expense report issue

Legal entity A, IC expense report which is working fine and LEgal entity B is where I am getting this error.

CHF is the accounting currency in B and EUR is the accounting currency in A.

RON is the currency I am submitting in both company.

In Both companies, RON- CHF and RON- EUR set up has been done in default exchange rate set up(filled in exchange rate type in Ledger) and in field Budget exchange rate type I have given a type called Budget(in this I have not set the exchange rate for currencies)

The weird thing is I am able to submit expense in A and not in B. But if i remove the Budget type from Budget exchange rate type in Ledger I am able to submit the expense in B. Please help