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Chapter 7 ■ Maintaining Currency Types and Currency Pairs Figure 7-4. Warning that changes may cause inconsistenies in the system Click the button at the bottom-left side of the pop-up screen to confirm your action. The Change View: “Currencies: Translation Ratios”: Overview screen is displayed. This is where you define the translation ratios. To enter data in the system, click the button on the top-left side of the screen. The New Entries: Overview of Added Entries screen appears (Figure 7-5). This is where you specify the settings for the translation ratio. Update the following fields: Click the Enter click Save . ExRt: This field allows you to specify an exchange rate for your currency pair. For example, M is the standard translation at average rate. Enter the exchange rate that you want to use in this field. This activity uses M (average rate). When you use exchange rate type M, you can easily determine the bank selling or bank buying exchange rate by adding or subtracting the exchange rate for the average rate. There is no hard rule about the exchange rate type you use here. You can use any of the three exchange rate types (G-bank buying rate, B-bank selling rate, and M-average rate), but we advise that you stick to your company’s standard. From/To: Enter your currency pair. This activity uses GBP/USD as the currency pair. Valid From: This is the date you want your exchange rate translation to be valid from. It is recommended that you use the current date. Ratio (From): Enter the ratio you want to use for your currency translation. This example uses a ratio of 1:1. button on the top-left side of the screen to confirm your entries and then 107
Chapter 7 ■ Maintaining Currency Types and Currency Pairs The next step is to enter an exchange rate that will be applicable to the translation ratios you defined for your currency translation in Figure 7-5. Figure 7-5. Define translation ratio for currency pair Enter Exchange Rates Exchange rates are used to translate one currency to another and are defined on a period basis (the Valid From field). The rates play an important role during posting and clearing because they are used to translate foreign amounts posted and cleared to your company code’s currency (the local currency). Secondly, exchange rates determine the gain or loss arising from exchange rate differences and valuate open items and balance sheet accounts in foreign currency during the closing process. The exchange rate setting is applicable to all company codes. Exchange rate types are supplied by SAP. We recommend that you use the M exchange rate type for your foreign currency translation during document posting or clearing in exchange rate field (ExRt). An exchange rate type must exist in the system, and the M type exchange rate is applicable to all company codes. You will specify the following conversion objects for: • Exchange rate type • Valid from • Currency key To enter your exchange rate, use this menu path: IMG: SAP NetWeaver ➤ General Settings ➤ Currencies ➤ Enter Exchange Rates. Or use the transaction code OB08. The Change View “Currency Exchange Rates”: Overview screen is displayed. This is where you enter your exchange rate. To enter your exchange rate in the system, click the button on the top-left side of the screen. The New Entries: Overview of Added Entries screen appears (Figure 7-6). 108
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■ Contents at a Glance ■Chapter
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■ Introduction Real-Time Three-Ti
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■ Introduction SAP FICO FICO stan
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■ Introduction Chapter 14 deals w
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Chapter 1 ■ Customizing Organizat
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Chapter 2 ■ Defining the Chart of
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Chapter 3 Document Control In this
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Chapter 3 ■ Document Control ■
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How to Display Number Intervals Cha
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Chapter 3 ■ Document Control that
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Chapter 3 ■ Document Control Figu
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Chapter 3 ■ Document Control Figu
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Chapter 10 ■ Defining Tax on Sale
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Chapter 11 Customizing a Cash Journ
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Chapter 11 ■ Customizing a Cash J
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Set Up the Cash Journal Chapter 11
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Chapter 12 ■ Financial Statement
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Chapter 13 Integration of FI with O
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Material Management (MM) Chapter 13
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Chapter 13 ■ Integration of FI wi
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Chapter 14 ■ Defining FI Accounts
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Chapter 15 Defining the Dunning Pro
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Chapter 15 ■ Defining the Dunning
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Maintain Dunning Levels Chapter 15
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Maintain Minimum Amounts Chapter 15
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Determine Call-Up Functions Chapter
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Summary Chapter 15 ■ Defining the
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Chapter 16 ■ Customizing Special
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Chapter 17 End User - Accounting Do
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Chapter 17 ■ End User - Accountin
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Posting Residual Items Chapter 17
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Display Account Balances Chapter 17
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Execute Dunning Chapter 17 ■ End
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Summary Chapter 17 ■ End User - A
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Chapter 18 ■ Customizing the Cont
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Chapter 19 Customizing New General
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Chapter 19 ■ Customizing New Gene
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Classify Document Types for Documen
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Appendix A Useful General Ledger Ac
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Appendix A ■ Useful General Ledge
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Goods Rcvd/Invoice Rcvd Recon Not Y
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Appendix B ■ Some Useful Transact
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■ index Automatic postings, MM mo
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■ index Display actual cost line
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■ index G/L accounts (cont.) fiel
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■ index Posting rules (cont.) G/L
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SAP ERP Financial Accounting and Co
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This book is dedicated to God Almig
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■ Contents Opening and Closing Po
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■ Contents Prepare Automatic Post
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■ Contents Step 3: Assign FSV Nod
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■ Contents ■Chapter ■ 15: Def
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■ Contents Accounts Payable—Doc
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■ Contents Document Types 441 Def
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About the Author Andrew Okungbowa i
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