Today I like to converse about a very communal scenario, which most AX users face, but very few know how to tackle it. Hence, to share the cognizance, writing this blog about dealing purchase orders in diverse currencies.
Every progression requires some pre-requisites hence this process requires creation of the following:
1. Exchange Rate Types
For the conception of an exchange rate or more rates as per the necessity of the company, their types should configured first. By following the path General Ledger>Setup>Currency> Exchange Rate Types a user can produce types. Generally, type Default is used.
2. Exchange Rates
After the formation of types, it is time to create Exchange Rates. By considering the way General Ledger>Setup>Currency> Exchange Rate Types.
Creation of Purchase Order
To build a purchase order (PO), click Purchase order in the new group of the action pane by utilizing the link Procurement & Sourcing>Common>Purchase Orders>All Purchase Orders
Select such a vendor whose currency is dissimilar from your reporting currency or a vendor using the currency for which you have formed an exchange rate as a pre-requisite, make available other necessities & hit OK button.
On the appeared PO window, fill the mandatory fields on the auto given line. The user can click Add Lines to call more lines in the PO if its making is not for a solo item. After that, user will reach the purchase tab of the action pane, move on to the generate group within the action pane to press confirm.
On confirmation, the user will now seek for Receive tab of the action pane. Over there, in order to obtain the procured item (s), user will select the Product Receipt option from the generate cluster of the action pane.
From the preceding illustration user can observe that a new window will appear, on that window user will just have to provide product receipt number & consume ok button.
Moreover, the user will now move to Invoice label of the action pane & select Invoice possibility from the generate set.
An invoice frame will appear where user can just provide the invoice number & proceed routinely by clicking post option on the action tab.
However, if the user is anxious about the exchange rate that could change with the passage of time. Then user will reach out for Setup fast tab in the Header View of the same frame. Below Currency, user will find a check box with the title Fixed Rate, activating this option by edit & providing the updated exchange rate will impose the new provided rate on the PO at the time of invoicing.
User will now transfer back to Line View in order to provide the invoice number & post the invoice in a regular manner.
By checking the voucher within the invoice journal, user can observe the bookkeeping of the procedure effortlessly.