Table of Contents
What is parallel currency in SAP?
To define parallel currencies, in Customizing, choose:
- For classic General Ledger Accounting: Financial Accounting Financial Accounting Global Settings Company Code Parallel Currencies .
- For new General Ledger Accounting: Financial Accounting (New) Financial Accounting Global Settings (New) Ledgers Ledger :
How do I activate parallel currency in SAP?
Use T-code: OB22 or follow IMG menu path: Financial Accounting > Financial Accounting Global Settings > Company Code > Parallel Currencies > Define Additional Local Currencies. Select all the live company codes for which update needs to be done.
How many types of currency are there in SAP?
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.
What is index based currency?
As you may well know, an index-based currency is a country-specific ficticious currency (and fx rate) that is required in some countries that tend to experience high inflation. This is typically used for external reporting purposes (tax returns, e.g.).
How many currencies can a company code have?
7. For a Company Code how many currencies can be configured? There are three currencies that can be configured for a Company code, one is a local currency and two are the parallel currencies.
What is company code currency?
Company code currency: The currency in which a company code is configured. Group currency: The currency is assigned at the client level. Hard currency: The currency which is assigned at the country level. Index based currency: This currency is assigned to countries in case of high inflation in these countries.
What is SAP Group currency?
Group currency is the currency that is set up for the client. This means that all company codes in the same client will have the same group currency.
How much currency is s4 Hana?
SAP S/4 Hana allows to use up to 10 parallel currency per ledger, so you can easily manage, check and monitor the balances and line item in different currency as per an organization requirements.
What is a group currency?
How many currencies does s4 Hana have?
10
In SAP S/4HANA When added to the company code currency and the global (controlling area) currency, this means that there are now 10 available currency fields in FI.
What is the use of parallel currencies?
Parallel currencies are the custom currencies as per the requirement of the company. Parallel currencies can work in foreign business transactions. If we want to do international payments or receivables transactions, we must configure parallel currency.
How do I manage parallel currencies in the leading Ledger?
Since the settings of the company code are transferred for the leading ledger, your leading ledger is also managed in these parallel currencies as well as the local currency in this case. You can only specify the parallel local currencies specified in the leading ledger as parallel currencies in the non-leading ledgers.
How to get total balance of parallel currency in Fi?
You can see this value on FI tables which is field DMBE2 and DMBE3. Otherwise, when you activate parallel currency, system keeps total balance for this currencies. You can get balance sheet report (F.01 transaction), profit & loss report (F.01 transaction) and G/L account balance (F:08 transaction) for parallel currency.
Could Greece introduce a parallel currency?
Biagio Bossone and Marco Cattaneo write that the introduction of a Greek parallel currency could take place in at least two ways. The first avenue would be for Greece to issue IOUs, i.e., promises to pay to the bearer euros upon a future time expiration.