Checking the account and asset conversion controls

Currency posting rules are set for each currency value on a business unit to determine how the value is used.

Account currency posting rules

These rules can be overridden for an account using the Conversion Code Control and Report Conversion Control options in Chart of Accounts (COA).

If the option is set to Prohibited, the appropriate value is not generated on the transactions for the account. Therefore, you must ensure that the currency posting rules are set correctly on the target business unit and on the accounts. The system reports this on the error report.

Note: This restriction only applies to transactions being generated by Ledger Conversion (LCN), not to those being swapped and does not prevent any other values on the transactions being converted.

Asset currency posting rules

If you want to introduce Value 3 values into the new business unit for fixed assets, you must ensure the following options are set correctly to allow the use of Value 3 in the new business unit:

  • the assets identified in the Second Base/Reporting Currency option in Business Unit Setup (BUS) must be set up in Ledger Setup (LES).
  • Reporting Conversion Control in Fixed Asset Records (FAS) and Fixed Asset Budgets (FAS) must be set to Ledger Default or Mandatory and not Prohibited.

If the option is set to Prohibited for an asset and Ledger Conversion (LCN) cannot swap or generate the value, it is reported on the Ledger Conversion (LCN) error report.

Note: This does not prevent any other values on the transactions being converted.