We’re working with a live AX 2012 customer that is in the process of closing their first quarter on the system. However, we’ve run into a troubling problem with the consolidations process; in particular with balance sheet accounts in foreign currency balances.
It appears that AX 2012 does not follow FAS 52 in that it does not translate balance sheet account balances at the spot rate as of the balance sheet date (month end rate but really any date where a client might wish to run the consolidation), but it translates only transactions, where they exist. If a balance sheet account does not have any transactions for the consolidation period, the system does not translate that account balance at all. Running the revaluation process in the consolidated entity after the consolidation process does correctly compute a value to adjust account balances with no transactions at the end of the period, but this entry is reversed the next time a revaluation is run (the system treats these adjustments as unrealized gains and losses).
Please say it’s NOT so!