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Suggested Fri, 07 Apr 2017 06:08:34 GMT by Ludwig ReinhardPlanned Long Term
Category: Cash and bank management

Hi,

Please make a foreign currency revaluation feature available in the bank module for all countries/regions.

This was a painpoint in prior systems and currently still is an issue in D365fO.

Some additional information especially about the related 'pain' and how a lot of companies resolved this in prior versions can be found here: https://dynamicsax-fico.com/2015/04/12/foreign-currency-revaluation-cash-and-bank-management-module/

Best regards,

Ludwig

 

 

Status Details

Thank you for your feedback. This is a great suggestion! We will consider it in our roadmap. 

 

 Sincerely,

Sara Schilke

PM, Microsoft

Comments (7)
  • I agree with Kjeld Hansen and this has been something we've enhanced in AX2012, but since it was quite an intrusive customization, we haven't fully tried if it can be moved to an extension.

    In any case, I've added one part (multi-currency accounts) as a separate idea here - https://ideas.dynamics.com/ideas/dynamics-operations/ID0003184. I will add one more for better support of payments, since AX lacks an "execution currency" on bank transactions and handling of currency exchange rates.

  • There is no "real" Bank - Bank Account where you are able to insert amounts/deposits in more than one single currency - hence a Bank Account and referred Ledger Account in AX/D365 most be in one and same currency.

    What needs to be done, is "Payment proposal" to create payments in currencies different then the Bank Account currency, to be done in two lines;

    - one Bank Account currency amount line

    - one new line in Vendor/Customer currency

    - using standard Exchange rate to calculate correct amount on the second line

     

    If currency is the same on debit/credit, the transaction can still be done in one line.

    With this logic added in "Payment proposal", you can run payments in all currencies from one bank account - in one go. Like done in "real" world....

    And you will have no currency issues or mismatch between Ledger Account and Bank Account totals.

  • There is a key design flaw  I don't believe was mentioned in the initial description here

    The revaluation needs to be done using the BANK ACCOUNT currency, and not (as it is done now) the TRANSACTION CURRENCY

     

    For the example above - CAD payment made out of the USD account in the example.

    Even through the payment is in CAD, it impacted the bank account in USD, and reduced the balance by a certain USD amount.

    The revaluation needs to be done for the USD/EUR exchange rate, and not for CAD/EUR exchange rate.

    Take for example EUR payment made out of the USD account. With current functionality, there is not adjustment happening since AX sees the same currency on the transaction (EUR) and on the accounting currency (also EUR). In reality - the bank account balance in USD has changed, and that change needs to be revalued.

  • The absence of this feature is making it quite hard to convince real enterprise customers (that have bank accounts in many companies in many countries and in many currencies) that AX is really an enterprise ERP.

    Trying to revalue using the GL revaluation results with incorrect adjustments.

  • Please can this be added to D365 as soon ass possible 

  • Thank you Ludwig for this suggestion. This feature request has been ongoing since AX2012 R2 and bank revaluation is a standard accounting process governed by IAS21. 

    I remember testing the Russian functionality once and if I am not mistaking, there was a small bug with regards to the reporting currency revaluation not calculating correctly.

  • Agree! There are 2 versions of it: the Russian and the Polish. I think the Polish is more advanced, and more politically correct one :))