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 | |||
---|---|---|---|
Logistic company | Reference | DKK | USD |
Local home | DKK | USD | |
Reporting 1 | not used | not used | |
Reporting 2 | not used | not used | |
Financial company 1 | Reference | DKK | USD |
Local home | DKK | GBP | |
Reporting 1 | not used | DKK | |
Reporting 2 | not used | USD | |
Financial company 2 | Reference | DKK | USD |
Local home | DKK | DKK | |
Reporting 1 | not used | GBP | |
Reporting 2 | not used | USD |
Example
Fictive euro initialization of the DKK: (The new reference currency is euro.)
Single to dependent multicurrency initialization | |||
---|---|---|---|
Logistic company | Reference | DKK | EUR |
Local home | DKK | EUR | |
Reporting 1 | not used | not used | |
Reporting 2 | not used | not used | |
Financial company 1 | Reference | DKK | EUR |
Local home | DKK | DKK | |
Reporting 1 | not used | EUR | |
Reporting 2 | not used | USD | |
Financial company 2 | Reference | DKK | EUR |
Local home | DKK | GBP | |
Reporting 1 | not used | USD | |
Reporting 2 | not used | EUR |