It is best practice in Microsoft Dynamics AX 2012 to always have an exchange rate with a blank Start date for a given exchange rate type. We have seen scenarios in Microsoft Dynamics AX 2012 where you get errors such as "An enchange rate cannot be found for exchange rate type XXX between currencies YYY and ZZZ on exchange date" if that exchange rate type does not have a blank From date. An example of a scenario that causes this problem is when you attempt to Create a Project hours forecast for a Multicurrency project and the default exchange rate type does not have a blank Start date exchange rate. An example of this is listed below:

1.  The CEU legal entity has a default exchange rate type of 'Default' and the accounting currency is 'USD'.

2.  The 'Default' exchange rate type only has a single exchange rate between the From Currency of 'CAD'/To Currency of 'USD' and the Start Date is 10/01/2012.

3.  A project contract 'CANADA' exists in the Project Accounting subledger that is mapped to a customer account that is assigned to the 'CAD' currency.

4.  I attempt to enter an Hours Forecast against a project in the 'CANADA' project contract, but receive an error message because I don't have an exchange rate in the 'Default' exchange rate type for the From Currency 'CAD'/To Currency 'USD' that has a blank Start Date.

5.  I then go back to the 'Default' exchange rate type and select the From Currency 'CAD'/To Currency 'USD' and create an exchange rate that has a blank Start Date in addition to the legitimate exchange rates.

6.  Now I can create a Project hours forecast for a project in my 'CANADA' project contract without the "An exchange rate cannot be found for exchange rate type Default between currencies CAD and USD on exchange date."

 

This scenario illustrates an example of an inadvertent exchange rate error occurring on Microsoft Dynamics AX 2012 processes if your Exchange Rate Type does not have an exchange rate with a blank Start Date. It is best practice in Microsoft Dynamics AX 2012 to start your exchange rates for your From Currency/To Currency values within an exchange rate type to have a blank Start Date.