Bank Transactions posting issue

Finance and Operations/AX User Forum
1

Hi there,

I am quite new to AX and I am trying to understand the logic of transaction posting from the bank module to corresponding GL account. E.g. I have a bank account in EUR currency and it can use more currencies. (My base currency is USD). When I pay a vendor in AUD from my EUR bank account, the transaction currency in the corresponding GL account is AUD. I believe that this is not correct as my transaction currency should be EUR - (the currency that I own at the bank).

Can anyone please let me know if we have a configuration issue or is this system supposed to work this way?

Thanks.

2

Hi John,

I believe, It’s supposed to work this way. The Transaction Currency in AX means the Currency in Which Transaction took place, which in your case is AUD, since you paid the vendor in AUD. So, AX is working as expected.

-Ansh

3

Hi Ansh,

Thanks for the response. This means that the expected reasults below is not achievable in AX:

SCENARIO

We own a bank account denominated in EUR;

We instruct our bank to pay a vendor in JPY using our money from the EUR account to fund this payment.

EXPECTED RESULT

  1. Our Bank Account (AX Bank Module) shows a credit in EUR (+ Equivalent in Base Currency)

  2. Our Bank Account (General Ledger Module) shows a credit in EUR (+Equivalent in Base Currency & Equivalent in Secondary Currency)

  3. Our Third Party Account (Accounts Payable / Accounts Receivable) shows a Cr / Dr in JPY (+ Equivalent in Base Currency)

From your experience, do you think that this is possible.

4

hi John

It is possible in AX. as per your scenario Company currency = EUR, Bank account Currency = EUR, Vendor currency =JPY

First thing you have to check the ‘More currencies’ check box on bank accounts > setup tab.

then while doing a payment , on payment journal be sure that currency = JPY and amount = JPY amount.

From this setup and transaction, we can see bank balance on EUR currency, Vendor balance and transaction on JPY currency.

5

Hi Anthony,

Thanks for the response. I forgot to mention that our base currency is CAD and our Secondary currency is USD.

So we have tried the above and it did not work. Any other setting that I should check out!