Accounting currency value ZERO and reporting currency value in $

Finance and Operations/AX
1

Well I tested and would like to reconfirm that it wont be possible to make a journal entry or to upload with Accounting currency 'Zero" and reporting currency value as $1000

Scenario is
We have Entity in Australia under Australian Dollar as accounting currency and reporting currency is USD, there are some adjustment required in USD per USA GAAP which wont impact AUD,

Whats the best way to account for

Would like to hear the feed back
thanks and kind regards

2

Hi @Jahen

I face this issue for one of my clients where they wanted to adjust the Trial balance for Reporting currency.

What we did was simple adjustment entry with $1 and manually updated the exchange rate and reverse the $1 with Zero / nominal exchange rate.

You could try this in UAT first for demo.

Let us know if that works for you.

Thanks,
CA Gaurangkumar Jani

3

The concern with regards to this is when revaluation will run, will change the reporting currency amount

any thoughts

thanks