Prerequisites
Before you complete the tasks in this chapter:
Select a method for converting amounts from one currency to another, and specify that you allow journal entries between companies that have different base currencies.
Specify the currency code for each currency.
Decide whether to use currency restatement and, if so, which method.
Decide whether to maintain account balances by currency.
For each company in the organization, specify the currency code, the restatement method, and whether to maintain account balances by currency.
Review the ledger types in user-defined code (UDC) tables 09/LT and 09/LA.
Decide whether you want to set up any additional ledgers and whether the additional ledger should contain only one currency.
Specify the general ledger accounts that accept only transactions in a specific currency and assign the currency code to the accounts.
Set up multicurrency AAIs.
Enter the initial exchange rate between the company domestic currency and all other currencies that you have defined.
Create an exchange rate that is not quoted in a financial publication.
Assign currency codes to the customers and suppliers to specify the currency of their invoices and vouchers.