Currency types used in Global Ledger

Use Global Ledger to track these types of currencies for each transaction:

Currency type	Transaction
Transaction currency	The currency in which a transaction is conducted. It can be different from the accounting entity functional currency.
Functional currency	The currency that is used in the environment in which an accounting entity operates.
Alternate currency	An accounting entity can use up to three alternate currencies. This type is the currency that are specific to the accounting entity. A typical use of an alternate currency is if an accounting entity has some local reporting requirements in a currency different than their functional currency.
Project currency	The project currency is defined for posting level project types.
Enterprise currencies	A maximum of five enterprise currencies can be defined at the finance enterprise group level and shared by all accounting entities. Transaction amounts are automatically converted to all of the enterprise currencies.
Account currency	You can assign a currency to an account. Transactions are edited to validate that the transaction currency is the same as the account currency.