Dynamics 365 F&O/AX Dynamics 365 CE / CRM Dynamics GP Business Central / NAV UG Dynamics SL Power Platform Fabric UG MS Copilot UG

[Irina Rapoport]

What is the process your company uses to consolidate Budget in AX 2009 for foreign subsidiaries?

We have several foreign subsidiaries that budget in their home currency. The functional currency is USD and Consolidated Company is USD.  I would expect that when I consolidate and Check the “Budget” box and “Exchange adjustment” box in Consolidate Online form, the process would run and consolidate Budget info from subsidiaries translating the foreign currencies to USD using available exchange rate. However, this does not happen, the data is consolidated but not translated. It appears on the Ledger Budget in proper currencies however, on the Financial Statements the amounts of currency appear as USD amounts (essentiality AX somehow reads the foreign currencies as USD?)

Thank you, Irina

   

——————————
Irina Rapoport
Keystone Industries (Research & Pharmaceutical)
Gibbstown NJ
——————————

[Kaare Boraas]

Irina.  I don’t have an AX2009 environment to try this in, but I would expect the consolidation process to translate the source currencies to the currency set in the target consolidation company.  If it’s adding together data in the source currencies you end up with apples and oranges which doesn’t make sense. 

There is one statement in your question that I find confusing.  Can you confirm that the various source companies have their local currency set as the accounting currency and USD is the accounting currency in the consolidation company?  In your post, you mention that the source companies budget in their local currency, but “functional” currency and consolidation currency are “USD”.  What do you mean by functional currency?  If the source companies use USD as their accounting currency, but budget in local currency there would be no currency translation in the consolidation as both the source and target currencies are the same.  The budget transaction should get converted to USD when it is posted in the source company.

——————————
Kaare Boraas
Solution Delivery Manager
PCL Constructors Inc.
Edmonton AB
————————————————————————-

[Irina Rapoport]

Hello Kaare,

Thank you for your response.

Functional currency has to do with GAAP rules and translation/ re-measurement/ classification to Profit and Loss or Other comprehensive income- you can ignore this for purpose of this discussion.

Foreign  companies home currencies are their local currencies , for example EUR, CNY, etc.  I am attempting to translate transaction at their home currencies to USD  in Consolidating Company.

thanks again, Irina

——————————
Irina Rapoport
Keystone Industries (Research & Pharmaceutical)
Gibbstown NJ
————————————————————————-

[Kaare Boraas]

Hello Irina.  I’ve definitely done consolidations in AX2009 where the subsidiary companies are in a different currency than the consolidation company and was able to get the system to properly translate the source transactions into the target company currency.  It is either a bug or an issue with your settings.  I could try to help if you take screen shots of all your settings and list all of the steps you’re following to complete the consolidation process.  Otherwise, you could do the same through a MS support incident.

——————————
Kaare Boraas
Solution Delivery Manager
PCL Constructors Inc.
Edmonton AB
————————————————————————-

[Irina Rapoport]

Hello Kaare, 

Above is the print screen of window that shows how I consolidate budget information.

Is there anything that I am overlooking? Thank you!

——————————
Irina Rapoport
Keystone Industries (Research & Pharmaceutical)
Gibbstown NJ
————————————————————————-