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In laymen, document currency is the currency that is applied for the document and local currency is the currency where the document is generated. Example : An Indian company does a posting for a Sale of goods in the USA. In this case the document currency would be USD and the Local currency would be INR.
In SAP, Currencies are configured for the company's legal way and standard of payment handling. ... 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.
A currency key can be associated with a currency field of a structure, database table, or view. The currency key contains a currency ID from the database table TCU RC, and defines the currency for the currency field. By default, the number of decimal places for a currency is always two.
In laymen, document currency is the currency that is applied for the document and local currency is the currency where the document is generated. Example : An Indian company does a posting for a Sale of goods in the USA. In this case the document currency would be USD and the Local currency would be INR.
Company Code Currency : The currency of a company code (country currency) in which the local ledgers are managed. You define the company code Currency when you define Company Code.
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.
Currency is a medium of exchange for goods and services. In short, it's money, in the form of paper or coins, usually issued by a government and generally accepted at its face value as a method of payment.
A currency (from Middle English: currant, “in circulation”, from Latin: current, -antis), in the most specific sense is money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins.
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.
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