Internal and external currency initialization

There are two types of currency initialization:

• Internal currency initialization

  You can use internal currency initialization to do one or all of the following:

  • Change a company’s currency system, for example, from dependent currency to standard.
  • Change a company’s reference currency or its home currencies.
• External currency initialization to euro

  You can use external currency initialization to change transaction currencies to euro and to convert the corresponding amounts and currency rates. Conversion to other currencies than euro is not supported. There are two types of external currency initialization:

  • External, business partner related
    A limited number of transaction amounts and transaction currencies that are directly related to business partners are converted to euros for a specified range of business partners. This especially applies to the business partner’s currency defaults.
  • External, non-business partner related
    A limited number of transaction amounts and transaction currencies that are not directly related to business partners are converted to euros. For example, item sales prices, and price lists.