Currency application effects in Billing

Currency code

A currency code is an identifier for currency such as US dollars and French francs. Currency codes represent all the currencies you use in business.

Uses of currency codes

You can use currency codes to track the currencies for an account, transactions, or companies. If your business uses multiple currencies, then you can use the Currency application to exchange, revalue, and translate your currency amounts against the base currency that you defined in General Ledger.

Currency relationship

A currency relationship identifies relationship rules between two currency codes in a currency table. You can list how currencies are exchanged and translated through currency relationships.

Currency relationships are defined in the Currency application.

See Currency User Guide.

Currency table

A currency table is a combination of currency relationships, exchange rates, and translation rates that are used by one or more companies. When making a currency table, you reduce the time it takes to independently create and maintain currency rates and relationships.

You can assign currency tables to General Ledger companies in the Currency application.

See Currency User Guide.

Plan your Currency setup for Billing

You can use the Currency application to maintain the information for conducting business operations in multiple currencies. The Currencyapplication is required for all Billing users.

This diagram shows an overview for setting up the Currency:

See Currency User Guide.