About the Lawson Currency application

The Lawson® Currency application is used to maintain the information needed to conduct business operations in multiple currencies.

If your organization conducts business in only one currency, you do not need to use this guide. You can use the General Ledger User Guide for information about defining the currency and setting up the company.

If your organization conducts business in more than one currency, then you will need to do additional planning and setup, and you can use the Currency User Guide for currency considerations and procedures.

The Currency application enables you to track five currencies for each transaction:

• The currency of the transaction

• The currency assigned to a specific General Ledger account

• The company operating currency

• Two additional currencies for reporting and inquiry

The Transaction Currency is converted to the Base, Account, and Report Currency using the exchange rate defined in the Lawson Currency application. Various reports are available to display and verify information.

This diagram shows the currency process: