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Foreign Currency Revaluation Automation For AP&AR
Introduction
In D365 version 10.0.43, Microsoft released “Enable process automation for accounts receivable and accounts payable foreign currency revaluation” preview feature,
This feature automates the foreign currency revaluation in Accounts payable and Accounts receivable.
Users need to enable “Enable process automation for accounts receivable and accounts payable foreign currency revaluation” feature in Feature management.
Once the feature is enabled user can find “Foreign currency revaluation automation” option under Periodic tasks in Accounts payable and Accounts receivable modules.
Setting Up Automation Rules
Creation of the automation process:
Go to Accounts payable > Periodic tasks > Foreign currency revaluation automation.
For the first time, to create new process automation, users need to click on Initialize process automations.
Click on Create new process automation drop-down, select schedule type and company and click on create series.
Defining the Schedule
User needs to give a name in the Name field, enter description(optional) in Description field.
Select Set Batch Log Level.
Users need to enter Schedule time and Start date, End date to stop auto process, if user don’t want to end the batch, user can make end date field empty.
Users select “occurrence pattern” (Ex. Daily/Weekly/Monthly/Once)
Enter Day of month for the revaluation to occur, for month occurrence pattern
Users can enable required alerts for notifications.
Click on Next.
NOTE: – Above given day of the month is not the posting date for the foreign currency revaluation, but the moment when user wants to run this revaluation (Executed date).
Setting Parameters for Automation
Select the method for revaluation (standard, minimum, invoice date).
Define the posting profile and dimension.
Number of days adjustment for date of rate – This option helps system to pick exchange rate date for revaluation.
Example: –
Day of the month In Previous wizard selected 30th means system will run process batch automation on 30th of every month
- If the user selects -1 in number of days adjustment for date of rate field: System will pick one day before exchange rate for revaluation (e.g., if the process runs on the 30th, it uses the rate from the 29th).
- If the user selects 0 in number of days adjustment for date of rate field: System will pick the same day exchange rate for revaluation (e.g., if the process runs on the 30th, it uses the same date rate).
- If user select +1 in number of days adjustment for date of rate field: System will pick one day after exchange rate (e.g., if the process runs on the 30th, it uses 31st of the same month /1st of next month).
Number of days adjustment for considered date: This field works as the same way as number of days adjustment for date of rate, but it is used to decide the “considered date” for foreign currency revaluation. It adjusts the revaluation date by the number of days a user enters, to choose the correct date for picking the exchange rate.
User can add description and notes (Optional).
Click on filter to what transactions the user wants to re-evaluate.
Click on Finish to create the automation series.
Based on given setups, the system will create the automation series then schedule the process to run automatically on the specified date each month.
Users can view all schedules by clicking on View Occurrences and in the bottom right corner pane helps users manage and track individual runs of the automation without changing the overall schedule.
Same way we can create Auto process in Accounts receivable module also
Monitoring and Reviewing Results
After setting up the automation, ensure the batch job is active so it can run according to the schedule. Users can easily track its status and view the results of the foreign currency revaluation.
Users can view scheduled batch jobs with status as scheduled.
At the time of batch job processing users can view status as Executing.
Once batch job processing is done, the user can get notified as per Alert setups.
Once the batch job is done without errors, the user can find status as Completed.
(if any error occurred in batch job, it will be failed and status shown as Error)
Users can click on view results.
Here, users can view status as success for completed batch job without errors.
Users can view hyper link on foreign currency revaluation field click on hyper link.
Users can land to generated foreign currency revaluation page, click on voucher to view transactions.
(user can view executed and considered date, date of rate and remaining as per pre-setups)
Users can also go to Accounts receivable/Accounts payable > Periodic tasks > Foreign currency revaluation.
Others
Click on View Occurrences to view all schedules with status.
Users can also view the right bottom pane, helps users manage and track individual runs of the automation without changing the overall schedule.
If a user wants to edit the whole process automation job line- schedule & parameters, click on Edit on above line or user wants to change individual scheduled job, user need to click on View/Edit on Pane individual schedules.
If user wants to disable(stop) whole batch job processes line, click on Disable on above line. For individuals select individual schedules and click on Disable in pane.
If user wants to delete the whole process automation job line, select and click on Delete.
Conclusion
The introduction of the “Enable process automation for accounts receivable and accounts payable foreign currency revaluation” feature in Dynamics 365 version 10.0.43 streamlines a previously manual and time-consuming task. By enabling this feature in Feature management, businesses can improve efficiency, reduce errors, and ensure timely and accurate foreign currency revaluations in both Accounts Payable and Accounts Receivable. This automation ultimately supports better financial control and reporting.
We hope this blog has offered valuable insights and practical advice for your professional journey. If you found it beneficial, please consider sharing it with your network. We welcome your feedback and thoughts, so don’t hesitate to contact us directly. Thank you for reading, and we look forward to engaging with you further!
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