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
Click on ‘New entries’ to define additional currency, e.g.
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
for further information, refer my blog on Parallel Currencies and Currency Exchange Rate.
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By Abhishek Khandelwal (on behalf of SAP Consulting Team)
SAP :: Streamlined
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