Currency Initialization

Two types of currency conversion are available:

• Internal

  To convert the company's home currencies to new home currencies, for example, to euro.

• External

  To convert transaction amounts and currencies to euros.

To carry out currency initialization:

1. Verify that you have carried out the necessary prerequisite actions, as described in Currency initialization prerequisites

2. Define the conversion cluster in these sessions:

   • Use the CI Clusters (tccri7501m000) and the CI Clusters (tccri7101s000) sessions to define the initialization type, the new currency system, and the new reference currency.
   • Use the CI-Cluster Companies (tccri7502m000) and the CI-Cluster Companies (tccri7102s000) sessions to define the new home currencies for each conversion-cluster company.
   • Use the CI Cluster Transaction Currencies (tccri7104m000) session only for an external currency initialization, to select the EMU transaction currencies that must be converted to euros.
3. Use the CI Rates (tccri7100m000) session to define the exchange rates between the currencies that are currently in use and the new home currencies.

4. Specify the customized tables and fields that must be converted, the conversion rules to be applied, and the priority with which the table or field must be converted, in these sessions:

   • CI Tables (tccri7522m000)
   • CI-Conversion Table Parameters (tccri7123s000)
   • CI Fields (tccri7521m000)
   • CI-Conversion Field Parameters (tccri7122s000)

5. Process the conversion cluster. Before you start the actual initialization process, you can perform one or more trial initializations to generate error logs. If all the errors are corrected, you can run the actual initialization process to change the data in the database. Use these sessions:

   • CI Process (tccri7203m000)
   • CI Error Log (tccri7520m000)

6. View or print the audit data. You can delete the audit data after printing the data. Use these sessions:

   • Print Audit Files (tccri7401m000)
   • Process Data (tccri7503m000)
   • CI Process-Data Internal (tccri7504m000)
   • CI Process-Data Internal (tccri7505s000)

Before you start a currency initialization process, take care of the following:

• As much as possible, transactions must be finalized before you start the initialization process, for the following reasons:

  • During internal currency initialization, the currency rates between the transaction currencies and the new home currencies defined in the CI Rates (tccri7100m000) session, are copied to the Currency Rates (tcmcs0108m000) session and the effective date is set to the initialization date. Next, the currency rates between the transaction currencies and the new home currencies with an effective date earlier than the initialization date do not exist. Therefore, after internal currency initialization you cannot carry out any actions on invoices and other documents with a document date earlier than the initialization date.
  • No audit data is recorded for nonfinalized transactions because these are still subject to change. If not all transactions can be finalized, you can print the report of nonfinalized transactions before or after the initialization process, depending on your audit needs.
• All nonmodifiable batches in Financials must be finalized. If this is not the case, the conversion process is aborted. If you run a trial conversion process, the error log includes any nonfinalized batches.
• The ledger accounts and related data required for posting rounding differences and for dual accounting must be specified in the Company Parameters (tfgld0503m000) session.
• Before you start currency initialization, always generate a backup for safety reasons. You can only reverse currency initialization by reinstalling the backup. If the currency initialization process stops due to a failure, you must reinstall the backup to recover the tables.