Setup requirements for multiple currencies

If your organization conducts business in more than one currency, then you must complete the additional setup tasks. This table describes required and optional setup for multi-currency companies. You can find detailed procedures for each task in the Currency User Guide.

Setup	Description
Currency Codes	In addition to the one currency code that is required by all General Ledger users, you must define a currency code for each currency in which you do business.
Currency Table	A currency table holds currency relationships, exchange rates, and translation rates in one place. You must define a currency table if you use multiple currencies. Associate a currency table with one or more general ledger companies to share currency information. This reduces setup and maintenance time.
Currency Relationships	When you define a relationship between two currencies, specify the rules that must be applied for transactions that involve both currencies. A relationship is required if you have business transactions that involve two currencies, such as if your base currency is US dollars, but you have a vendor that bills you in Japanese yen.
Currency Exchange and Translation Rates	You can define the exchange and translation rates that are used to convert an amount from one currency to another. There are two ways to define rates: manually or through an interface. You must define rates if you will be exchanging or translating currency amounts.