At the begin of each month, they estimate an “Exchange Rate”, and all the transaction will be posted by this exchange rate, but by the end of that month, they will get another “Exchange Rate” from the bank. if the “Exchange rate” from bank is higher than the “estimated exchange rate”, then the variance will be posted into a gain account, but if the “Exchange Rate” from bank is lower than the “estimated exchange ate”, then the variance will be posted into the loss account.
How to meet this kind of requirement in the AX system?
Does this mean, when i run the “Foreign Currency Revaluation” job, the system will always use the “latest exchange rate” to do the adjustment to transactions that i posted based on the earlier exchange rate ?
default exchange rate:
from July/01/2014 to July/30/2014, (USD to CNY rate = 8.0)
from July/30/2014 to July/31/2014, (USD to CNY rate = 8.5)
by the end of the month(July/31/2014), i run the “Foreign Currency Revaluation” job, the system will use the “8.5” to do the adjustment for the transactions posted between July/01/2014 to July/30/2014 ?