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Reply from Ron Roberts on Sep 28 at 2:27 PM You are correct. At least in the US, the GAAP rules indicate that the functional currency should be the currency used for primary accounting and reporting purposes.
How to configure it? You cannot change the local currency of a company code once it has postings. You can create a new company code with USD as the local currency.
Theoretically, your group currency (local currency 2) can act as your functional currency, but you would really have to evaluate your period-end currency valuation adjustment process. I do not recommend this approach.
| | | ---------------Original Message---------------
From: pankaj83
Sent: Friday, September 25, 2015 3:50 PM
Subject: Functional Currency Configuration
Hi All
Can a functional currency & company code (local currency) differ? We have company in Nigeria which is configured as NGN as company code currency & USD as group currency. Now we got request that functional currency to be USD. How it will be configured? According to me company code currency=functional currency.
Regards
Pankaj |
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