From the Microsoft Dynamics AX blogs: Foreign currency revaluation; Sub-project budgeting; AX 3, 4 batching; Future item reservations

A selection of the latest insight from the Microsoft Dynamics AX blogs:

• Foreign Currency Revaluation;
• Independent Sub-project Budgeting in AX 2012 R3;
• AX 3.0 and 4.0 Batching;
• AX 2012: Future Item Reservation Requirements:

Foreign Currency Revaluation

Over at the Dynamics AX and Me, Caroline, a Dynamics AX functional analyst explains that the foreign currency revaluation periodic function is used to recalculate currency amounts based on a new exchange rate. At the time of the transaction, the system uses the spot rate setup in the currency exchange rate table. At month end, the currency amounts should be reevaluated based on the month end rate (for BS accounts) or the monthly average rate (for P&L accounts).

Also, if your company is set up with a reporting currency, this function must be used to recalculate correctly the reporting currency amounts.

However, before the function can be executed, the exchange gain/loss accounts must be set up, Caroline says.

"Ensure those accounts are set up properly before executing the function otherwise the adjustments will be posted to the same account as the original transaction. This will not adjust the balance of your trial balance and also the adjustments will not be updated if the set up is changed after the fact, you would have to do a manual reclass."

There are two areas to set up those accounts - you can find out what they are here.

Independent Sub-project Budgeting in AX 2012 R3

On the Direct Reports ...