Ledger (form)

  • Article

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

Click General ledger > Setup > Ledger.

Use this form to set up the ledger for a legal entity. You can select one or more account structures that are used for the ledger. Account structures consist of main accounts and can include financial dimension segments. Use the Configure account structures form to create account structures.

Your organization might have to generate a balanced balance sheet that is based on the values of a financial dimension. In this case, you can select the balancing financial dimension in this form. When you enter the financial dimension, every accounting entry must balance in total and also at the level of the dimension value. If the accounting entry does not balance at the level of the financial dimension value, additional account entries are created automatically to balance the accounting entry. For more information, see Enable interunit accounting.

Although you can use financial dimensions to represent legal entities without creating the legal entities in Microsoft Dynamics AX, financial dimensions aren’t designed to address the operational or business needs of legal entities. The interunit accounting functionality in Microsoft Dynamics AX is designed to address only the accounting entries that are created by each transaction.

Before you set up financial dimensions as legal entities, evaluate your business processes in the following areas to determine if this setup will work for your organization:

  • Inventory

  • Sales and purchases between financial dimensions and legal entities

  • Sales tax calculation and reporting

  • Operational reporting

Some examples of the limitations include the following:

  • You can use sales tax functionality only with legal entities, not with financial dimensions.

  • Some reports don't include financial dimensions, so you can't always report by financial dimension unless those reports are modified.

Task that uses this form

Set up a ledger

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

Buttons

Button

Description

Ledger calendar

Open the Ledger calendar form, where you can view the details for the fiscal calendar. You can also view details for fiscal years that are part of that fiscal calendar and maintain the period status for the calendar and the ledger.

Recalculate ledger periods

Open a form where you can recalculate ledger periods.

Add

Add an account structure to the selected chart of accounts. You create account structures in the Configure account structures form.

Remove

Remove the selected account structure from the selected chart of accounts.

Configure account structures

Open the Configure account structures form, where you can create one or more account structures.

Fields

Field

Description

Chart of accounts

Select a chart of accounts to use for the ledger. You set up charts of accounts in the Chart of accounts form.

Account structure

The account structure that is added to the selected chart of accounts for the ledger. Use the Configure account structures form to configure account structures.

Name

The name of the account structure.

Balancing financial dimension

Optional: Select the financial dimension that must be balanced in all accounting entries. You must select a financial dimension that is included in all account structures that are assigned to the ledger.

When you select a balancing financial dimension, all new accounting entries must be balanced for each value for this financial dimension. Automatic transactions are created to balance the entries, based on the main accounts that are identified in the Accounts for automatic transactions form.

Warning

If you select a value in this field, only accounting entries are balanced. Your organization’s operational processes are not considered.

Fiscal calendar

Select the fiscal calendar to use for the ledger.

Accounting currency

Select the accounting currency for the ledger. After you use this currency on a source document, you cannot change the selected currency.

Reporting currency

Select the reporting currency for the ledger. After you use this currency on a source document, you cannot change the selected currency.

Default exchange rate type

Select the default type of exchange rate for the ledger that provides the currency exchange rates for multicurrency transactions.

Default budget exchange rate type

Select the default type of budget exchange rate for the ledger.

Posting

Select the type of exchange rate for posting. You can select Realized gain, Realized loss, Unrealized gain, or Unrealized loss.

Main account

Select a main account for each posting type. When a currency is revalued, the difference is posted to this account, depending on the posting type.

Name

The name of the main account.

See also

Configure account structures (form)

Chart of accounts (form)

Ledger calendar (form)

Recalculate ledger periods (form)

Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).