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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Settle between differe...
Microsoft Dynamics AX (Archived)

Settle between different currencies using cross rate

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Posted on by saflier

I have a scenario where I bill my clients in a different currency from my accounting currency and I sometimes receive vendor invoices in a different currency as well.

I want to settle either type from my bank account which is in my accounting currency.

In earlier versions of AX this was possible by using cross rate.

However, it looks like this is no longer allowed in AX2012.

What is the correct process for the above scenarios now?

Carsten

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  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Settle between different currencies using cross rate

    Hi Carsten,

    Can you elaborate on the question and possibly share some screenprints that illustrate what does not work as expected/in the prior version?

    Many thanks,

    Ludwig

  • saflier Profile Picture
    saflier on at
    RE: Settle between different currencies using cross rate

    Hi Ludwig,

    Are you seeing this?

  • saflier Profile Picture
    saflier on at
    RE: Settle between different currencies using cross rate

    Hi Ludwig,

    Had some issues with the site here.

    The issue above is both AP and AR.

    The best example is actually with AR.

    Your accounting currency is EUR.

    You book a vendor invoice at 100 USD ad 1.3 USD/EUR

    Next month you pay that invoice via a payment journal from your bank in EUR at 1.2 USD/EUR.

    Where do you tell AX that the payment is for the full invoice at the rate the bank is charging you?

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Settle between different currencies using cross rate

    Hi saflier,

    Once you are in the payment journal you can select the invoice to be paid in the settlement form.

    After selecting it and transferring it to the journal lines, you can change the system exchange rate to the bank exchange rate in the exchange rate field that is available in the general tab of the payment journal.

    Best regards,

    Ludwig

    P.S. To attach screenshots you need to save them first and then make use of the 'use rich formatting' form.

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