Currency Types And Configuration Process In SAP – Introduction

Header-Design Augmentation

In SAP, Currencies are configured for the company’s legal way and standard of payment handling. In SAP configuration, currency plays an important role. In SAP, all currencies are maintained according to ISO Standard. We can configure currencies as per the rules of the country defined in the company code. SAP provides currencies of every country and we can also define our own currency if we require.

In SAP, when we define Company/company code, currency is a basic data which should be maintained.

In SAP, we can maintain one base currency and two parallel currencies, it means three currencies. In FI documents, we can take four currencies including the transaction currency. With this function we can take reports in multiple currencies as per the management reporting requirements.

In SAP IMG, we can check currency as per the ISO standard. In this we can check and add currency entries as per our requirement.

SAP IMG –> SAP NetWeaver –> General Settings –> Currencies –> Check Currency Codes

sap currency overview

Click on ‘New entries’ to define additional currency, e.g.

sap currency detail

We can maintain parallel currencies in one company code. Generally, we use parallel currency for company having more than one subsidiary in different geographic location around the world. We can maintain not only one but more than one parallel currencies in our system. The parallel currency functionality has remained basically unaffected in the New G/L.

Additional Local Currency for company code – OB22

sap local currency

for further information, refer my blog on Parallel Currencies and Currency Exchange Rate.
Please send us your questions, comments or assistance, and our team would be glad to assist you.

By Abhishek Khandelwal (on behalf of SAP Consulting Team)

SAP :: Streamlined

We offer variety of services including SAP ECC ,SAP HR,SAP BW,SAP CRM, SAP SCM,SAP BPM, Business Objects, SAP ABAP DevelopmentSAP BASIS and SAP NetWeaver consulting. We have expertise in providing implementation,development, SAP Migration and SAP support services to SAP customers across diverse industries at a global level.
Have a question on SAP? Write to our SAP Architect.

(We promise a no-obligation consulting reply)