Exchange Rate for Single Transaction?

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Hello. Is there a way to set an exchange rate for a single JE?

We use both USD and CAD. In June we posted an entry in CAD on 6/30/2019. This entry should have been booked as reversing but wasn't, so another entry was booked manually in July to reverse the June entry. The July entry was booked on 7/12/2019, and was converted using the rate that was in our system for that day. While this correctly reversed the CAD amount, there was a difference in the USD amount due to the difference in exchange rates between the two days. Additionally, another entry was booked in USD in December to correct the USD amount, but this affected the CAD balance as well, as the system automatically converted the amount to CAD based on that day's exchange rate. Since June and July were already closed we were not able to book the entry in either of those months in order to use the exchange rates in effect at that time.

We don't want to change the overall exchange rate in the system for any single day as that would affect a lot more than just these particular entries and accounts. Is there a way to set an exchange rate for a particular transaction, so we could book an entry for June in the current period, but using the June exchange rate?

I hope this makes sense. Thanks in advance for any help you can provide.

Erica

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Ludwig Reinhard Microsoft Employee on at

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Hello Erica,

If you record those transactions in journals - such as a GL journal as an example - then you should be able to overwrite the default exchange rate for an individual transaction.

There is a specific exchange rate field available there that default the current exchange rate that is valid based on your exchange rate table.

This rate can be changed and overwritten with any other rate you like.

Best regards,

Ludwig

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Where do I go to do that? I tried to do so on the General Journal entry but it posted for a different rate than I entered.

I'm trying to reverse an entry from 6/13/2019 that was booked in CAD with a 1.332425 exchange rate ($4,626.06 CAD / 1.332425 = $3,471.91 USD). When I booked the reversal JE in January, I set a "forced rate" of 1.332425 on the Setup tab of the JE screen, to match the rate of the original entry. However, the GL shows the USD amount of the new JE as $3,562.21, which is a rate of only 1.298649. How did this happen and how should I book the entry to get the correct result?

Also, in general, is there any way to see what the amount will be in the other currency before posting an entry? It would be great to be able to tell whether an entry is doing what we intend it to do.

Here are the screenshots:

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Ludwig Reinhard Microsoft Employee on at

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Hi EriSand,

The parameter 'forced rate' is not available in my plain vanilla AX2012 environment.

To me this looks like an adjustment.

Can you talk to your system admins and clarify whether or not the adjustment made is responsible for what you experience?

Best regards,

Ludwig

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Hi Ludwig,

I will definitely talk to our systems admins, as suggested. In the meantime can you let me know what you were referring to in your first reply:

"There is a specific exchange rate field available there that default the current exchange rate that is valid based on your exchange rate table. This rate can be changed and overwritten with any other rate you like."

Where is the exchange rate field you refer to?

Thank you so much for all your help!

Erica

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Ludwig Reinhard Microsoft Employee on at

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Hello Erica,

That's the field that you can see in your screenshot right below the 'enforced...' checkbox.

Best regards,

Ludwig

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