Fixed rate agreements (form) [AX 2012]

Updated: March 28, 2011

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

Click Project management and accounting > Common > Projects > Project contracts. Select or open a project contract. On the Action Pane, on the Project contract tab, in the Set up group, click Fixed rate agreement.

Use this form to set up a fixed exchange rate for a project contract. A fixed exchange rate is used when you invoice foreign customers. When a fixed exchange rate is defined for a project, the customer pays the bank to freeze the exchange rate so that it stays the same for the whole project period and the bank pays any fluctuations on the exchange rate.

Price calculations are not based on fixed rate agreements. However, if you have a fixed rate agreement set up on a project contract, transactions posted to projects on this project contract are calculated using the fixed rate agreement. Also, accrued revenue is posted using the fixed rate agreement.

The following tables provide descriptions for the controls in this form.

Tab

Description

Overview

Create an exchange rate setup for the project contract. The exchange rates are based on the sales currencies that are set up in the general ledger.

General

View and define details for an individual exchange rate setup.

Field

Description

Sales currency

The currency in which the project is invoiced.

Exchange rate

The currency exchange rate.

NoteNote

In the Quotation unit field in the Currency exchange rates form, you can change the number of units that the exchange rate is based on. The change is automatically reflected in the Exchange rate field in this form. A typical setup for currency exchange rates expresses how much accounting currency is exchanged for 100 units of the selected foreign currency.

Forward cover number

Enter the fixed exchange rate agreement number received from the bank.

Project contract ID

The project contract from which invoicing is performed.


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