Support Alert.....!!! Currency Setup in Dynamics AX 2009 CRM:0027732

<http://www.dynamicsaxtraining.com/knowledge-base-application/currency-setup
-in-dynamics-ax-2009> Currency Setup in Dynamics AX 2009

To create currency go to General Ledger > Setup > Exchange Rates. The
Exchange rates form opens.

<http://www.dynamicsaxtraining.com/wp-content/uploads/2010/12/Exchange-rates
.png> Exchange rates form

Exchange rates form

As you can see in above screen shot we have five tabs on this form. First is
the Overview tab. In this tab we'll create new currency. To create new
currency press Ctrl + N, in the Currency field write new currency short name
(3 characters limit), in the Name field write descriptive name for new
currency, in the ISO field select ISO currency code for new currency and in
the Symbol field enter symbol for new currency created.

In the lower pane of the Exchange rates form, are the exchange rates for
currency. You can define exchange rates for each day. If you want to use one
exchange rate leave the Start date field blank. AX will automatically use
last exchange rate, if multiple exchange rates are available.

Next is the General tab which shows same information as in the Overview tab
except the Gender field (Optional if you are not using Spanish check).

Third tab is the Currency convertor tab. Enable currency conversion by check
mark on the Conversion field. Postfix and prefix are character you want to
add before and after amount. Enter spaces before and after postfix and
prefix fields to separate from amount.

I have created the Pakistan Rupees (PKR) with the following setup:

<http://www.dynamicsaxtraining.com/wp-content/uploads/2010/12/Currency-Excha
nge-form-Currency-conversion5.png> Exchange rates form, Currency converter
tab

Exchange rates form, Currency converter tab

Now I want to view all my amounts in the PRK currency. To do this click the
current currency icon located in the bottom right corner of the status bar.

<http://www.dynamicsaxtraining.com/wp-content/uploads/2010/12/Currency-conve
rter.png> Currency converter

Currency converter

The Currency converter form opens. Double click on the PKR currency.

After doing above setting we will get the following result in the Chart of
Accounts form.

<http://www.dynamicsaxtraining.com/wp-content/uploads/2010/12/Postfix-and-Pr
efix-change-in-COA-Detail-form1.png> Chart of accounts form

Chart of accounts form

The Posting tab define Realized loss, Realized profit, Unrealized loss,
Unrealized profit general ledger accounts due to currency exchange rate.

<http://www.dynamicsaxtraining.com/wp-content/uploads/2010/12/ExchangeRatesP
ostingTab.png> Exchange rates form, Posting tab

Exchange rates form, Posting tab

These settings depend on your company policies and weather you are using
foreign currency for billing and payments. There's a detail article about
Realized and Unrealized profit and loss
<http://www.dynamicsaxtraining.com/knowledge-base-application/realized-loss-
realized-profit-unrealized-loss-unrealized-profit-in-dynamics-ax-2009> .

Last tab is the Round-off tab as the name shows it's about rounding off
currency.

<http://www.dynamicsaxtraining.com/wp-content/uploads/2010/12/ExchangeRatesR
oundOffTab.png> Exchange rates form, Round-off tab

Exchange rates form, Round-off tab

General rounding-off applies to all modules and there are separate settings
for Account Receivable, Account Payables modules and Prices.

Example: We have amount 6827.28. Below table describe how Round Off and
Rounding form works.

Rounding form

Round off .01

Round off .10

Round off 1.00

Round off 10.00

Round off 100.00

Normal

6827.28

6827.20

6827.00

6830.00

6800.00

Upward

6827.28

6827.30

6828.00

6830.00

6800.00

Downward

6827.28

6827.20

6827.00

6820.00

6800.00

Currency setup in General Ledger module

In General Ledger module go to Setup > Parameters. The General ledger
parameters form opens. Go to the Ledger tab:

<http://www.dynamicsaxtraining.com/wp-content/uploads/2010/12/GeneralLedgerP
arameters.png> General ledger parameters form

General ledger parameters form

In the Express exchange rate field specify how much of your currency equals
to 100 units of foreign currency. The value is used in the Exchange rates
form.

Example: Enter the 50 in the Express exchange rate field. Save parameters.
The Exchange rates form will have the following values.

<http://www.dynamicsaxtraining.com/wp-content/uploads/2010/12/ExchangeRatesN
um.png> Exchange rates form

Exchange rates form

The Maximum penny difference field contains the maximum difference between
debit and credit amount in the voucher. The difference can appear when debit
or credit amount is rounded (because debit and credit amount is rounded
separately).

The Maximum penny-rounding in the secondary currency field contains the
maximum difference between debit and credit amount in the voucher if this
amount is recorded in the secondary currency.

Setting up company default currency

To set company default currency do the following:

Go to the Basic > Setup > Company information > Other tab > Currency field
group > Currency field

You can select any currency you have created in the Exchange rates form