Cross-chart of accounts specification that contains the valuation approach to be used for performing a foreign currency valuation as part of the closing operations, for example, according to the lowest value principle.
To perform a foreign currency valuation in new General Ledger Accounting, you need to have specified in Customizing which valuation method is applied.
You define valuation methods in the Implementation Guide for
.In a valuation method, you make the following specifications for the foreign currency valuation:
The valuation procedure to be used, for example, lowest value principle
How the exchange rate differences determined should be posted, for example, which document type should be used
The basis on which the exchange rate should be determined, for example, which exchange rate type should be used.
Under the above path in Customizing, you assign a valuation method to a valuation area.