TAILIEUCHUNG - Financials II in Microsoft Dynamic AX 2012 - Chapter 5: Multicurrency

Financials II in Microsoft Dynamic AX 2012 - Chapter 5: Multicurrency. In this chapter, the learning objectives are: Complete the setup steps that are required for foreign currency revaluation, run foreign currency revaluation in General Ledger, run foreign currency revaluation in Accounts Receivable and Accounts Payable. | Chapter 5: Multicurrency CHAPTER 5: MULTICURRENCY Objectives The objectives are: • Complete the setup steps that are required for foreign currency revaluation. • Run foreign currency revaluation in General Ledger. • Run foreign currency revaluation in Accounts Receivable and Accounts Payable. Introduction Microsoft Dynamics AX® works with multiple currencies and provides several methods to meet the accounting requirements in different countries. The General Ledger Setup course in the Financials I collection explains the basics of setting up currencies and exchange rates. This course describes advanced currency topics, such as Foreign currency revaluation. Exchange rates constantly fluctuate. Therefore, Foreign currency revaluation is necessary for correct periodic accounting. If you do not periodically adjust to reflect the current rates, foreign amounts that you convert and post to the General Ledger, and then display in reports can be in the accounting or reporting currency amounts. HINT: Microsoft Dynamics AX uses the concept of Accounting currency and Reporting currency. These currencies can be viewed in the Ledger form by opening General Ledger, Setup, and clicking Ledger. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 5-1 Financials II in Microsoft Dynamics® AX 2012 Setup When a company works with multiple currencies, it must be able to track any profits or losses caused by fluctuating exchange rates. Currency Revaluation Accounts Under a fixed exchange rate system, the term devaluation and revaluation are defined as official changes in the value of a country's currency relative to other currencies. There are many factors that may affect the valuation of a currency including market forces and political policies. Procedure: Set Up Currency Revaluation Accounts Set up the accounts to unrealized and realized gains caused by exchange rate fluctuations on the .

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