What is the second base or reporting currency?

The third currency value available on a transaction can be used to maintain either a second base currency, or a reporting currency. This currency is also fixed for the business unit and, therefore, applies to all of the transactions for the unit.

The second base or reporting currency is pre-defined for the business unit in the same way as the base currency.

A second base currency runs parallel to the base currency. Transactions always contain both a base currency and a corresponding second base currency value and the conversion rate between the base and second base currency is fixed.

The second base currency can be chosen as the pivot currency, if required.

A reporting currency does not have to be held on all transactions and is usually calculated by the system. It is often the currency of a parent company. The reporting currency cannot be selected as the pivot currency.