Maintain Currencies data (T)

  1. Expand Master Data applications > Tables.
  2. Select Financial Tables > Currencies.
  3. Click the New icon.
  4. Specify this information:
    Currency

    Specify a currency code, for example, INR for Indian Rupee. Currency defines the valid currencies that are used by a company. This field is mandatory.

    Description

    Provide a description of the currency, for example, Indian Rupee.

    ISO Currency Code

    Specify a currency code that is according to ISO 4217 standards.

    Rounding Factor

    Specify a rounding factor. The Tax Engine rounds calculated amounts according to the rounding factor that you defined in this field. The amounts are rounded to the nearest multiple of the rounding factor. For most currencies, a rounding factor of 0.01 is used. The system applies the rounding factor after performing the applicable tax calculations.

  5. Click the Save icon.