How to correct posted transactions that have incorrect exchange rates without reversing each transaction individually in Microsoft Dynamics AX

Example

In this example, you post a transaction that has an incorrect exchange rate, as follows:

You set the exchange rate as follows:

Click General ledger, expand Setup, and then click Exchange rates.

In the Exchange rates dialog box, select EUR, enter the start date in the "Exchange rate" form, and then enter the exchange rate in the "Exchange rate" form. In this example, you set the following exchange rate:

110 United States dollars (USD) = 100 euros (EUR)

You create a free text invoice for customer 4033. The invoice is for 100 euros.

Note To open the Free text invoice dialog box, click Accounts receivable, and then click Free text invoice.

You post this free text invoice. Then, you discover that the exchange rate is incorrect. The correct exchange rate should be the following exchange rate:

105 USD = 100 EUR

How to correct transactions

To correct posted transactions that have incorrect exchange rates, follow these steps:

Change the "EUR exchange rate" from 110 to 105 for the period when the incorrect transactions were posted. To do this, click General ledger, expand Setup, and then click Exchange rates.

Use the following information to run the Standard method:

•	The correct exchange rate date
•	The posting date
•	The dimension setup
•	The posting profile from the customer or from the selected account
•

To run the Standard method, click Accounts receivable, expand Periodic, and then click Exchange adjustment.

The accounts receivable exchange rate adjustment keeps 100 euros as the balance for the customer. However, a zero euro transaction that has a currency rate adjustment of five dollars is created for customer 4033 in the general ledger. The "customer control" account is credited, and the unrealized "exchange rate loss" account is debited.

Faiqa Usman

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