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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / How to revaluate repor...
Microsoft Dynamics AX (Archived)

How to revaluate reporting currency

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Posted on by VanNTT 140

Hi all, 

I have a question related to reporting currency.

I used currency in system following:

- Reporting currency: USD

- Local currency: VND

Example: 

1. Create invoice: Exchange rate: 22 000 VND/USD

VND USD
Db: Expense 1 000 000 45,45
Cr: Vendor balance 1 000 000 45,45

2. Create payment: Exchange rate: 21 000 VND/USD

VND USD
Db:Vendor balance 1 000 000 47,62
Cr: Bank 1 000 000 47,62

There is difference reporting currency between two transactions and I needs to revaluate it

Does anyone know about it?

Thanks in advance.

Van Nguyen

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  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: How to revaluate reporting currency

    Hi Van Nguyen,

    Revaluation will not help / be possible in this case as your recorded the transaction in local currency VND. AX won't pick up this transaction in the foreign currency revaluation process.

    In my opinion there is no revaluation required because this is a translation related issue that will not influence your company's profit at all.

    Yet, if you really want to have the USD amounts zero out you can use the following workaround.

    - Create a new GL journal and record a first line where you select the vendor account used. Record a debit amout of VND  1 000 000  and ensure that this transaction is posted at the very same date as your original invoice. As offset account I would use a bridging account that is only used for local currency transactions; that is, an account where USD balances do not matter. Posting this first line should result in a USD amount of 45.45

    - Create a second journal line where you credit the same vendor account for the same amount (VND  1 000 000 ). Also the offset account should be identical. This time, please ensure that the posting date is the one used for posting the invoice. Posting this second line should result in a balance of USD 47.62, which brings the USD amounts back to 0.00 for your vendor.

    Please test this first in a demo/test environment and let us know if this fixes your problem.

    Best regards,

    Ludwig

  • VanNTT Profile Picture
    VanNTT 140 on at
    RE: How to revaluate reporting currency

    Hi Ludwig Reinhard,

    The invoice and payment are in local currency VND.

    I enter exchange rate every day in form "Currency exchange rate" (with path: General Ledger/Setup/Currency/Currency exchange rate)

    The transactions were entered  different  day therefore the reporting currency was gain/loss.

    If I view my reports by reporting currency, the amount of vendor balance is not zero

    So I need to adjust the amount of reporting currency to balance.

    Thanks for your help,

    Van Nguyen

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: How to revaluate reporting currency

    Hi Van Nguyen,

    The invoice that you entered is that in your local currency VND or did you enter it in USD?

    If the invoice is entered in VND there is no foreign currency gain/loss but only a translation related one. That's something you can't avoid as long as the VND-USD exchange rate fluctuates.

    Best regards,

    Ludwig

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