In this blog I will show you how to setup exchange rate type and currency exchange rate in Microsoft Dynamics AX7, This setup is use to resolve buying and selling and different currencies, this setup is also use for calculating exchange rate as report level to see reports in different currencies . For example your transaction currency is PKR, but need to see reports in USD, this setup will use.
First we create Exchange rate type,
- Click on exchange rate type the below screen will open. Then click on new highlighted in the below screen shot.
- The highlighted “PKR” type is created in see below screen shot.
After creating exchange rate type create currency exchange rate
- Go to General ledger and click on currency exchange rate.
Select the exchange rate type which we created, highlighted in the below screen shot
- Select the highlighted fields enter 1 into conversion factor. In the last line you can check that 160 PKR is equal to 1 GBP.