Definition

Legal means of payment in a country.

Use

For each monetary amount that you enter in the SAP System, you must specify a currency. You enter currencies as the ISO standards, for example, USD for U.S. dollars.

You define currencies in Customizing. To do so, in Customizing choose  SAP NetWeaver General Settings Currencies Check Currency Codes .

In Financial Accounting, you have to specify for each of your company codes, in which currency ledgers should be managed. This currency is the national currency of the company code, that is, the local currency (or company code currency). From a company code view, all other currencies are then foreign currencies.

You should configure your controlling area currency as another local currency. We recommend setting currency type 30 for it.

You can manage ledgers in two parallel currencies in addition to the local currency, for example, group currency or hard currency. One of these should be your controlling area currency, if possible. Other currency combinations are possible if you migrated your system from an earlier Business Suite release. In such cases, you can manage two additional local currencies in Financial Accounting, if they are not the controlling area currency.

For more information about

In order for the system to translate amounts into various currencies, you must define exchange rates. For each currency pair, you can define different exchange rates and then differentiate between them by using exchange rate types.

Integration

In Financial Accounting, currencies and currency translation are relevant in connection with the following: