What is the transaction currency?

The transaction currency is the currency in which the transaction originated, if this is different to the base currency. For example, if a British firm buying goods from America receives an invoice in US dollars (USD), the transaction currency would be USD and the base currency is probably GBP.

The transaction currency value is a variable currency which means that each transaction can be held in a different, valid defined currency. A currency code must be entered to identify the transaction currency.

The transaction currency can be chosen as the pivot currency and used as the basis for calculating the base and second base/reporting currencies.

If the transaction currency for the business unit has been defined as 'Only Present if Entered' the transaction currency code will not be populated if the ledger interface does not post transaction values.