Click Administration> Setup> System> Configuration > Currency, select the Eurocheck box, and click OKto save the configuration.

Click Basic> Setup> Company information .

On the Othertab, change the triangulation currency, if any, to the new company currency (EUR).

Create a backup of the database.

There must be enough disc space for duplicating the company account you are converting and for creating an additional backup of the whole database after duplicating the company account.

Microsoft Dynamics AX must be called and the company account to be converted must be selected.

Perform a check of the amounts before the conversion in Administration> Periodic> Company currency conversion> Checkwith submenus Reconciliationand Settlementsthat contain several reports for checking the amounts in company currency. You must run all reports before starting the conversion to be sure that all amounts are correct.

Run the report Check ledger transactionsunder Check.

When the check runs without errors, the report is empty.

Close previous fiscal years, including the following activities:

• For the day before the opening date of the current fiscal year, a closing of the inventory must be run in Inventory management, > Periodic> Closing and adjustment.

• Opening transactionsmust be generated for the current fiscal year in General ledger> Periodic> Fiscal year close.

• For all periods of the previous fiscal years the status must be set to Closedin General ledger> Setup> Periods> Periods .

• Recalculate period balancesmust be run in the Periods form.

Create a copy of the company account that shall be converted.

All data in the company account must be copied into a new company account so that after the conversion, the new company account contains the original data of the previous fiscal years. Therefore the company account must be duplicated by calling Duplicatein the Company accounts form in Administration.

Note
If the company account to be converted belongs to a virtual company, it must not be duplicated but the data must be exported and imported into a newly-created company account, because otherwise the shared data is not copied. The shared data will no longer be shared in the new company account. The reason for doing so is that virtual companies cannot be copied.

Enable the configuration keys Euroand Secondary currencyunder Currency.

If it does not exist, create a currency code for the new company currency (EUR).

Create two ledger accounts for the posting types Conversion profitand Conversion loss.

Set up the Conversion profitand Conversion lossledger accounts in the System accounts form, and create system accounts for Penny difference in default currency., Penny difference in secondary currencyand Year-end resultif they do not already exist.

If the product amounts are very small, it is possible that they will be converted to zero. To void this, increase the property NoOfDecimalsof the extended data type Pricein the Application Object Tree (AOT). The default value of this property is 2. After changing the extended data type, the Data dictionarymust be synchronized.

Another backup of the whole Microsoft Dynamics AX database must be created.