First transaction: +€100 = +$111
Second transaction:. -€100 = -$109
Actually D365 should settle these transactions and post the realized exchange rate gain/loss automatically to one of the main accounts which have been setup in the Accounts for currency revaluation (general ledger -> ledger setup -> ledger)
Comments
This feature will benefit the customer across the globe, as this is a common ask during any implementation.
Also, the Exchange rate gain/loss account must consider the first search from the Currency revaluation posting profiles based upon the transaction currency if no configuration found then 2nd search from the Ledger setup configuration to pick the realized Exchange rate gain/loss account automatically based upon the Transaction Currency code.
Category: General Ledger
MS invested in describing this deficiency in the context of the year-end closing - see Reporting currency out of balance when the year-end close is run - Finance | Dynamics 365 | Microsoft Learn
We would like to continue with an investment to the analysis and development of a report with the basic variability of recharging these (technical) differences. This could then be triggered e.g. on monthly basis.
Category: General Ledger
Hello Microsoft,
is there any update on this? My client would like such functionality as well. He is used to the same from the old system, where the settlement is made on posting currency and the difference in accounting currency is being posted to exchange rate loss/gain account.
I see, the post is from 2019 and there is no update about this from your site.
Category: General Ledger
Hello,
I have a case that relates to this suggestion. They are having issues when they want to settle transactions on the ledger settlement because of the reporting currency balance. cx received the error message "Transaction marked for settlement do not balance." The balance amount is -0.01. GBP is the accounting and reporting currency , while EUR is the transaction currency. Cx needs a solution. Is there any workaround for resolving this issue?
Category: General Ledger
This was also a requirement from my former client.
Category: General Ledger
Is there any update on this? Users are facing issue with this and need solution. They have to do a lot of manual effort in calculating realized gain/loss and then pass manual entries in system.
Category: General Ledger
In term of pure accounting process, to "clean" by settlement GL accounts with foreign currency variances is really necessary for justification of GL accounts for CFO and legal auditors. GL settlement functionality need to be improve by Microsoft...
Category: General Ledger
We also would like to clear Centdifferences with this ledger settlement. e.g. there is a difference between social security liability (automatical report) and payment (automatical report) we want to clear EUR 0,57 between these 2 transactions.
Category: General Ledger
The foreign currency revaluation is not applicable for this main account as this main account contains loans to third parties. For accounting purposes our customer would not revaluate this main account so (some of) the loans keep their original amount.
However the suggested functionality, as described above, would be helpful anyway.
Category: General Ledger
Administrator on 10/23/2023 6:56:24 PM
In the release notes for 2023 Wave 2, you'll find entries to support the calculation of gains/losses in both the accounting and reporting currency when doing ledger settlement. The reporting currency functionality will be delivered first, and then the accounting currency after that.