Exchange Rate in Dynamics Ax 2012

·         In Microsoft Dynamics AX, all currencies are provided by default. The currencies are loaded the first time a user opens the General ledger parameters form.

·         Only one currency can represent the Triangulation currency. By default, the EUR currency is selected as the Triangulation currency. To change the Triangulation currency, you must first clear the Reference currency for triangulation check box on the EUR record in the Currencies form. Then, you can select the Reference currency for triangulation on the desired currency.

·         Accounting Currency: This is the monetary unit of measure that is used to record the converted monetary value of economic transactions in ledger accounts. It may also be referred to as the "company" or ledger currency.

·         Reporting Currency: The monetary unit of measure used to record the converted monetary value of economic transactions in ledger accounts for financial and management reporting purposes

·         Create Exchange Rate Types: Exchange rates types are shared data across the entire system and only need to be setup once. Exchange rate types are a grouping that allows different exchange rates for two currencies. Examples include Buy, Sell, Spot, and Budget

·         A currency pair can only exist once and entering a reciprocal pair is not supported in the system. Therefore, if you already have USD to EUR set up, you cannot create a EUR to USD currency pair for the same exchange rate type. The system will calculate the reciprocal rate automatically if it cannot find the exact currency pair during the translation conversion. If you only have USD to EUR set up and you are entering a transaction amount in EUR in a legal entity where USD is the accounting currency, the system will first look for the exact currency pair in the rate type used by the ledger: EUR to USD. If not found, the system will then look for USD to EUR and calculate the reciprocal rate.

·         Display Currency: When you change the display currency, the default currency of a company does not change. Also, this is not a global change; it does not affect any other users in the company, nor does it change the original transaction. It is also meant to be an estimate of the amount in the selected currency.