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[Archive User]

Hello, We revalue balance sheet accounts at the end of the month for foreign currency transactions. Does anyone know how to pull the supporting details of the FX revaluation entry made by AX? Although the FX entry made by AX looks reasonable, our external auditors will need to see the supporting calculation. Any insights on how to get the FX revaluation details would be much appreciated. Thanks. Wenlie

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Wenlie Zhou
Controller
Radius Health
Waltham MA
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[Napoleon Cordoviz]

Not sure how much this can help.
Try generating the report Transaction origin. (General Ledger->Reports->Reconciliation->Transaction origin)
Apply some filters like, just for the FX gain/lost accounts or maybe the journal number generated by the FX revaluation process you did. 
Hope this helps. 
Thanks!

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Napoleon Cordoviz
Sr. Business Analyst
Universal Weather and Aviation, Inc
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[Archive User]

Hi Napoleon, Thanks for your comment. I was hoping to get a detailed listing of the invoices being revaluated to support the FX entry by currency type. Our AX consultant told me that this could only be done through a custom script, not sure if others have any better solutions or a routine to download open and paid invoices for the month to prove out the automatic FX entry created by AX?

Thanks,

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Wenlie Zhou
Controller
Radius Health
Waltham MA
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[Susan Alvarez]

Hi, a few thoughts here. You can get a listing of the open invoices in other currencies from AX views such as Accounts payable/Common/Vendor invoices/Open vendor invoices. A similar AR view exists. Currency natively displays on the view. Filter out the native currency, such as ‘*USD’ if filtering out USD.

If using an AX standard report, such as ‘Vendor Aging’, under the ‘Select’ button, you should be able to add the vendor invoice table and then access the ‘Invoice currency’ field to select the currencies in question or deselect your home currency like above. This should give you a report of only AP invoices in other currencies. You would need to do the same procedure for AR invoices.

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Susan Alvarez
VP of Consulting Services
ITK Solutions Group
Atlanta GA
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[Heather Roskewich]

Hi,
There is a report that can be run, but only at the time of the AP or AR revaluation – ensure that you select the “print” check box on the dialog when it’s run. It’s point in time only – I’ve not been able to find a way to rerun it, so it’s important that you save it at the time. The report sums the vendor or customer balances, indicates transaction currency and the revaluation amount. There is no invoice detail but it could be cross referenced with a balances or aging report. It also contains a nice summary at the bottom which indicates the total revaluation for each currency type. If you need more detailed instructions, send me a note. Hope you find this helpful. Unfortunately, I have not found anything similar for the GL revaluation. 

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Heather Roskewich
Controller
Somagen Diagnostics Inc.
Edmonton AB
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[Steven Kfare]

The issue with the “print” option when running accounts receivable//payable revaluation is when you do it in batch. The batch job will complete and the revaluation posting made but the report does not “print” unless it is stored somewhere within the system.

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Steven Kfare
Senior Business Analyst
The New York Times
New York NY
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[Kaare Boraas]

Hello Wenlie,
The foreign currency revaluation uses it’s own number sequence.  As such, you should be able to pull the journal it creates as reference for your auditors.  However, it sounds like you’re looking for a proof that the revaluation was done correctly.  I’m not aware of a report or query that shows that.  You should be able to look at the journal and drill down to the transactions it is updating and confirm the revaluation was correct.  I would suggest your auditors select a sample and do that sort of detailed validation on a few transactions.  After that, they should be convinced that the system is doing exactly what it should based on the configuration.  It’s kind of like asking for a report to confirm that you calculator is doing multiplication correctly.  If you want a report that shows the info you need to do this validation, your consultant is probably right and you may need to write a custom report or query.
Good luck,
K. 

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Kaare Boraas
Solution Delivery Manager
PCL Constructors Inc.
Edmonton AB
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[Archive User]

Thanks, this is helpful.

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Wenlie Zhou
Controller
Radius Health
Waltham MA
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[Napoleon Cordoviz]

Hi Wenlie,
If you wanted to see then from the invoices, then I agree with Susan’s suggestion getting it from the AP and AR modules directly.
Thanks.
 

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Napoleon Cordoviz
Sr. Business Analyst
Universal Weather and Aviation, Inc
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