Exchange Rate

Finance and Operations/AX User Forum
1

Dear All,

While updating the vendor transaction in Open transaction editing form, the system throws the error message " Account number for transaction type Exchange Rate Loss does not exist". What could be the reason.

If i given the unrealized loss or profit account it is updating, but the system is creating unwanted entries like 0.01 paise debited and credited to unrealized loss or profit account.

It is necessary to give the unrealized loss or profit account for INR. if it is not given the system is throwing the above error.

Please help me to resolve the problem

Thanks in Advance

2

If i understood correctly you might be settling some transaction through “open transaction editing form”. So, there might be exchange rate fluctuations from the date the invoice or payment transaction happened. If that is the case system wil adjust the amount and post it as Exchange profit and loss for which there should be the Exchange rate profit and loss account should be mandatorily mentioned in the corresponding currency code.

3

Thanks for your valuable response.

But i need some more clarifications in this, the transactions are made in “INR” only, is there any necessary to give the Exchange rate profit and loss account code in Posting tab under setup exchange rate.

If i give the account code in posting tab, while doing the settling the system is creating unwanted entries “0.01, 0.02” in that Exchange rate profit and loss account code.

Thanks in Advacne

V.Mahadevan

4

Mahadevan,

Yes, you will have to give the accounts for INR…and if i’m not wrong, your company currency might be X and either one of the selected transactions in opentransactions edting form is Y. So, system posting the exchange profit or loss accordingly…So, the transactions which u r seeing might be correct entries. You can go ahead and set the accounts for currency.