Effects of the Currency application in Billing

Currency code

A currency code is an identifier for a kind of currency such as US dollars, French francs, and so on. Your company uses currency codes to represent all the currencies you conduct business in.

Uses of currency codes

You can use currency codes to track the currency for an account, a transaction, or a company. If your business uses multiple currencies, then you can use the You must set up at least one currency code for your company. If your company conducts business in more than one currency, then you must set up a separate code for each currency that you use.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 is an identifier for relationship rules between two currency codes in a currency table. You can often dictate how currencies are exchanged and translated through currency relationships.

Currency relationships are defined in the Currency application. See the 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 the Currency User Guide.

Planning your Currency setup for Billing

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

This checklist provides an overview for setting up Currency. See the Currency User Guide.