Single currency to dependent multicurrency

If you convert a single currency system to a dependent multicurrency system, you can make these changes:

  • Extend the number of home currencies to a maximum of three currencies.
  • Change the reference currency.

The amounts in the local home currency are converted into amounts in the new home currencies. The new home-currency amounts replace the original amounts in the database or are stored as the additional home-currency amounts. Amounts in home currency that are already present in one of the new home currencies are not recalculated.

Note: In a dependent setup, if the euro is one of the new home currencies, it must be the reference currency to be euro compliant, as shown in this example.

For elementary differences in home-amount calculation between a "euro initialization" and other conversions, see "Conversion Rules."

Example
Single to dependent multicurrency initialization
CompanyCurrency typeBefore initializationAfter initialization
Logistic companyReferenceDKKUSD
Local homeDKKUSD
Reporting 1not usednot used
Reporting 2not usednot used
Financial company 1ReferenceDKKUSD
Local homeDKKGBP
Reporting 1not usedDKK
Reporting 2not usedUSD
Financial company 2ReferenceDKKUSD
Local homeDKKDKK
Reporting 1not usedGBP
Reporting 2not usedUSD

 

Example

Fictive euro initialization of the DKK: (The new reference currency is euro.)

Single to dependent multicurrency initialization
CompanyCurrency typeBefore initializationAfter initialization
Logistic companyReferenceDKKEUR
Local homeDKKEUR
Reporting 1not usednot used
Reporting 2not usednot used
Financial company 1ReferenceDKKEUR
Local homeDKKDKK
Reporting 1not usedEUR
Reporting 2not usedUSD
Financial company 2ReferenceDKKEUR
Local homeDKKGBP
Reporting 1not usedUSD
Reporting 2not usedEUR