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Foreign Currency Revaluation Error

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Posted on by Abba-king

I have a bank denominated in USD. We ran into some trouble when we ran a foreign currency revaluation using the FCR function in the bank module. The balance in USD (our reporting currency) is correct but the balance in accounting currency (NGN) is way off as a result of the foreign currency revaluation entries. The USD balance is a debit balance while the NGN balance now shows a credit balance. We are out of ideas on how to fix this as we can't reverse the revaluation entries and not sure how to correct the bank balance either.

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André Arnaud de Cal... 300,911 Super User 2025 Season 2 on at

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Hi Abba-king,

Can you share what exact revaluation transactions were posted? Are you using Dynamics AX 2012 or Dynamics 365 Finance?

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Abba-king 5 on at

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Hi Andre, we use Dynamics AX 2012. The foreign currency revaluation entries are typically between our unrealized foreign exchange gain/loss account and the bank ledger.

We have the Foreign Currency Revaluation function enabled on the Cash and Bank module and that's where we run the revaluation from, but it seems the revaluation entry amounts posted are really high even when the rate changes within the period are minimal. The outcome is that we now have the accounting currency balance of the bank in a credit position while the reporting currency (USD which is transaction currency we use in posting into the bank) is in a debit position. And we can't really reverse those figures and not sure how to go about fixing it.

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DAnny3211 11,397 on at

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hi

look this

community.dynamics.com/.../foreign-currency-revaluation---ap

DAniele

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André Arnaud de Cal... 300,911 Super User 2025 Season 2 on at

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Hi Abba-king,

Can you tell how you enabled the bank foreign currency revaluation? Initially, this was a localization for Russia and Poland only. I don't know in what exact version it was extended for all countries. Before that, usually with a customization it was made available for other countries. Can you tell if you have customizations or are you using the standard?

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