Understanding Company Setup for Multicurrency Processing

To set up the company to process multicurrency transactions you must complete these tasks:

  • Assign a domestic currency code.

    Assign a currency code to specify the base (domestic) currency of each company. The system maintains amounts in the AA ledger in the domestic currency, using the correct decimal positions as specified for the currency code.

  • Decide whether to post balances by currency.

    Specify whether to post account balances to the foreign currency (CA) ledger in the Account Balances table (F0902) by currency.

  • Restatement computation. Specify the computation method to use for balance currency restatement.

  • Detailed currency restatement. Specify whether to allow detailed currency restatement.

The system stores company currency information in the Company Constants table (F0010).