[Najeem JanatAli]

Hi
In Dynamics AX 2012, can we maintain parallel GL

Eg is one on IFRS and other on GAAP

please advise

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Nazim Lalji

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[Ludwig Reinhard]

?Hi Nazim Lalji,

The answer to your question is yes 🙂
You basically have two options how to realize this:

Option 1:
Make use of posting layers, which can be setup at the journal level. Just check out your GL journal setup and identify the posting layer parameter that can be set to something like actual, tax, … An advantage of using posting layers is that you do not need to setup new ledger accounts but post IFRS, local GAAP, … postings on the same account

Option 2:
The alternative is using separate classes of accounts for differentiating local GAAP, IFRS, … transactions. This means that you have a separate area in your CoA that hold accounts that are only used let’s say for IFRS postings.

I personally prefer option 2 more but a lot of people just think the opposite 🙂

Best regards,

Ludwig 

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Ludwig Reinhard
SYCOR GmbH
Goettingen
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[Zvika Rimalt]

Another method (alas, a bit cumbersome) method I have seen is consolidating into a consolidation company, and using the “elimination company” functionality to add the additional journals to required for IFRS / GAAP etc.

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Zvika Rimalt
Functional Consultant
Vancouver BC Canada
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