Group Currency Record

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What is Group Currency in SAP. It's used for consolidation purpose in SAP so that all the company code currencies value under that group can be reported in one.
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 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.
Each company code can have two additional currency is addition to the company code currency entered to the company code data. The currency entered in company code creation will be called local and the other two additional currencies are called parallel currencies.
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.
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.
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 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.
There are three currencies that can be configured for a Company code, one is a local currency and two are the parallel currencies.
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.
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