The need to report in additional currencies may occur at any time to satisfy legal, statutory or management supplementary reporting requirements. This is also a good option to be considered if you operate in countries with highly inflationary economies.
In General Ledger this can be accomplished using
- Reporting Currencies - where the need is to simply maintain transactions in multiple currencies
- Secondary Ledgers - where the main purpose is to represent transactions in a different accounting method, calendar, currency, chart of accounts
You may configure any of these setup alternatives to comply with your Generally Accepted Accounting Principles circumstances.
But what if the business requirement comes after your Primary Ledger is already in use?
What would be the impact of such setup changes?
Would this change be permitted?
The answer is Yes!
We Can accommodate such a change, find out How in
Impact of Newly Added Alternate Ledger Currency(ALC)/Secondary Ledger in Release12 (Doc ID 1479782.1)
This document provides a complete impact analysis for new installs or upgraded instances regarding
- Business flows
- Accounting and Reversals
- Non-upgraded data options
We made it EASY to get meaningful balances in Any Currency, Anytime!