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[Christopher Ho Yee]

Hi,

Hoping to get some out of box assistance here.

I have a scenario where there is a Consolidation company that consolidates multiple subsidiaries with differing accounting currencies, but the same reporting currency. The company has a need to calculate a FX revaluation on ALL Balance sheet accounts in the Consolidation company, but ONLY CERTAIN (i.e. monetary) accounts in their subsidiaries.

All the companies have been setup with the same shared Chart of Accounts.

To achieve this requirement, we have enabled Foreign Currency Revaluation across all Balance Sheet accounts which satisfies the requirements for the Consolidation company. However, in doing so, this opens up the possibility for non-monetary accounts to be revalued at the subsidiary level when it is not intended. To compensate, we manually specify the range of monetary accounts in which the revaluation will apply during the FX revaluation (i.e. we exclude the non-monetary accounts from the revaluation).

This is less than ideal process as the list of accounts in each of the subsidiaries has to be manually maintained whenever new accounts are setup.

Has anyone encountered this scenario and tackled it in a more effective manner?

Appreciate any insights!

Cheers,

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Christopher Ho Yee
Altius Consulting
Richmond BC
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[Kaare Boraas]

Hello Christopher.  Consolidation used to be my jam, but it’s been a long time.  Below is a link to a blog post a wrote a number of years ago and recently republished on the D365 forum.  Not sure if it helps with your question, but might be worth a peek.

https://www.axug.com/axug/blogs/kaare-boraas/2019/10/24/d365fo-how-to-consolidate-a-foreign-subsidiary

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Kaare Boraas
Relationship Manager
PCL Constructors Inc.
Edmonton AB
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[Brad Bertchie]

Christopher;

When using a shared chart of accounts – that is how you handle this situation.

Usually makes most accountants scream at first – but once you set up the query in FX reval for the subs – it becomes very manageable.

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Brad Bertchie
Western Computer
Oxnard CA
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[Christopher Ho Yee]

Thanks for the confirmation Brad!

Yes, we have a bunch of annoyed accountants. We’re looking at developing an extension to filter by a new field that will group the monetary accounts that are subject to FX revaluation in the subsidiaries.

Cheers,

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Christopher Ho Yee
Altius Consulting
Richmond BC
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