European Monetary Union and Contract Accounts Receivable and Payable 

From January 1, 1999 to June 30, 2002, those countries participating in European Monetary Union will have a dual currency phase. All companies with their headquarters in a member state must switch from their local currency to euro during this period. For information about the parameters of the dual currency phase and the special features resulting from it, see the System Administration Guide on the changeover to the Euro in Financial Accounting in the SAP Euro Guide and in the training material (course number CA990)

Notes on the Dual Currency Phase in Contract Accounts Receivable and Payable

For Contract Accounts Receivable and Payable, the activities for the dual currency phase are listed and described separately in the Implementation Guide (IMG)

Notes on the Changeover to the Euro in Contract Accounts Receivable and Payable

The conversion package contains the following functions for Contract Accounts Receivable and Payable:

·        Checking that the accounting is correct before conversion

·        Converting Contract Accounts Receivable and Payable documents to the new local currency, the euro

·        Handling rounding differences

·        Reconciling Contract Accounts Receivable and Payable with G/L accounting after conversion. These figures serve as a basis for adjustment postings in the general ledger.

Note that the conversion package for you to convert your own productive data in Contract Accounts Receivable and Payable will be released by SAP in note 208019. Under no circumstances should you convert productive data prior to the package being released unless you have first spoken with SAP. The conversion functions delivered in the release will be updated in maintenance levels (see note 208019).

For Contract Accounts Receivable and Payable, the activities for the local currency changeover are listed and described separately in sequence in the implementation guide (IMG). The changeover procedure is described below.

Notes for Standard Components

SAP has delivered the functions for the changeover to the euro for the standard (for example, for accounts payable or G/L accounting). For an exact description of the conversion for standard applications, see the documentation for the Cross-Application Components in the SAP Library. Concrete steps for the changeover are given in the SAP Customizing Implementation Guide (see Cross-Application Components ® European Monetary Union - Euro ® Local Currency Changeover). Note that there are additional activities in the SAP Customizing Implementation Guide which must be carried out for euro changeover in Contract Accounts Receivable and Payable. The Implementation Guide for Contract Accounts Receivable and Payable contains a note about this.

Notes on Archiving in Contract Accounts Receivable and Payable

No archiving may be done in the fiscal year in which the changeover to the euro takes place. Once you have activated your changeover package, the system no longer allows you to archive in the fiscal year in which the changeover takes place. If you have already archived for the fiscal year in which changeover takes place, you have to restore the archived documents.