Function documentationUse of Reference Date for Posting and Currency Translation

 

This function enables you to use a reference date that serves as a key date to determine the exchange rate for currency translation. You can also use the reference date to post the reimbursement amounts calculated by the system for the trips in the Financial Accounting (FI) component.

Depending on the regulations, the reference date can be, for example, the first or last day of the trip or the date of border crossing in or out.

Prerequisites

You have entered the default value of reference date in the trip schema in Customizing for Travel Expenses under Start of the navigation path Dialog and Travel Expenses Control Next navigation step Dialog Control Next navigation step Define Schema and Individual Field Control End of the navigation path(or transaction FITVFELD).

Features

Currency Translation

When your employees travel abroad, they enter the travel costs in foreign currency in Travel Expense Manager and provide receipts for the journey. The system calculates the meal per diems, reimbursement amounts, and travel costs for which the employees provide receipts in foreign currency. You have the following options to reimburse the amounts to the employees:

  • Reimbursement in foreign currency

    In this case, you do not need to translate the reimbursement amount to local currency.

  • Reimbursement in local currency

    In this case, you must first translate the calculated reimbursement amount from foreign currency to the local currency. To do so, you enter a reference date for the currency translation in Customizing. You can manually change the reference date on the Receipts tab page in Travel Expense Manager. The system translates the costs from foreign currency to local currency with the exchange rate that is assigned to the reference date.

    Note Note

    If the employees pay for a cost with a credit card, you must not manually change the reference date in Travel Expense Manager. The system must use the exchange rate as defined by the bank for the given day.

    End of the note.
Reference Date Used as Posting Date

You can use the reference date as a posting date for posting the calculated reimbursement amounts to the relevant G/L accounts in Financial Accounting (FI). You select the reference date as a posting date in the Create Posting Run (PRFI) transaction as follows:

  1. In the Posting Doc. group box, choose General Trip Data.

  2. In the Posting Date group box, select the Reference Date of Trip radio button.

For more information about the Create Posting Run transaction, see the report documentation in the system.