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The local currency is the currency of the company code which represents the legal entity in a 'standard' SAP configuration. This currency is used to comply with local tax reporting requirements as well as representing the functional currency as seen in FAS 52 or IAS 21.
Group Currency. The group currency is defined at a level in table T000-WAERS, therefore, the group currency is the same for all company codes which are defined in the SAP installation.
The SAP system can perform currency translations using a predefined average exchange rate. Hard currency — Hard Currencies are used in countries with high inflation to improve the value of transaction. When a. hard currency is selected, the document is automatically updated in the local currency and the hard currency.
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.
Currency — What is currency? Currency refers to any kind of money that is in circulation in an economy, used to purchase goods and services. Easily invoice in your customer's currency and keep up with exchange rates automatically with Debtor. Try it free for 7 days.
In Financial Accounting, in addition to the local currency, you can define a maximum of two parallel currencies for your company code. This means your ledgers are managed in these parallel currencies in addition to the local currency. You can use various different currency types as parallel currencies.
A parallel currency can be a stable, hard currency (e.g., a foreign currency) that is used alongside a weak national currency, to combat hyperinflation in the national currency for example.
A company code can have 3 currencies in total. They are local currency i.e. company code currency) and 2 parallel currencies.
The euro sign () is the currency sign used for the euro, the official currency of the European Union (EU) and some non-EU countries (Kosovo and Montenegro). The design was presented to the public by the European Commission on 12 December 1996.
Euro The euro sign () is the currency sign used for the euro, the official currency of the European Union (EU) and some non-EU countries (Kosovo and Montenegro). The design was presented to the public by the European Commission on 12 December 1996.
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