Internal euro initialization

You can use internal euro initialization to:

  • Change the reference currency and one of the home currencies to euro.
  • Change the currency system from single currency to standard or dependent multicurrency, if required.

Performing internal euro initialization

You perform internal euro initialization in the same way as described for internal currency initialization under "Currency Initialization Process." The current chapter only describes the differences with internal currency initialization.

Prerequisites

Before you can perform internal euro initialization, you must:

  1. Define the euro in the Currencies (tcmcs0102m000) session.
  2. Mark the EMU currency/currencies as "EMU Currency" in the Currencies (tcmcs0102m000) session.
  3. Ensure that all companies within the logistic area have the euro as "Transition Currency" ( LN FP5) or "Euro Currency" (in previous versions) defined in the Companies (tcemm1170m000) session.

Currency exchange-rates

In the CI Rates (tccri7100m000) session, you must define the currency exchange-rates between all the currencies that are used by the company, and the new home currencies.

To be euro compliant, you must define the rates between EMU transaction currencies and the euro as follows:

  • The fixed rates between the EMU currencies and the euro must be used.
  • The Base Currency must be euro.
  • The Rate Factor must be 1.
  • The Express in Base Currency check box must be selected.

Conversion cluster data

In the CI Clusters (tccri7101s000) session, you must select this data:

  • The Currency System must be one of these:

    • Standard
    • Single
    • Dependent
  • Except for the standard multicurrency system, the logistic currency, that is, the reference currency, must be the euro currency. In the standard currency system, the logistic currency can be any currency.

Cluster company data

In the CI-Cluster Companies (tccri7102s000) session, you must select this data:

  • One of the home currencies must be the euro.