Understanding shared financial data
Microsoft Dynamics AX 2012 R3 introduced a new concept called shared financial data, which reduces the effort and time of deployment in a multiple-company environment and operational maintenance as well. A group of companies can share the same chart of accounts, currencies, and dimensions; this decreases the operation time. For example, a new main account will be available to all companies. The following figure explains the concept of shared financial data in detail:
The financial data that will be shared between companies is as follows:
- Chart of accounts: This contains the main account
- Account structure: This contains the applicable dimensions of the main accounts
- Fiscal year: This contains the start date and end date of the fiscal year and the period's management
- Currencies: This represents the default currency and reporting currency
- Exchange rate type: This sets the monthly exchange rate for foreign currencies and the default budget exchange rate
To...
