Amount for updating in general ledger amount in local currency

Posted by / 20-Aug-2017 07:03

Amount for updating in general ledger amount in local currency

Allison Martin (moderator): Thank you for joining us today!

In this one-hour forum, we invite you to ask your questions on currency translation with SAP.

[General Ledger Staged Data form] A reference to the corresponding record in the General Ledger Cleansed Data table.

This is the expense in the General Ledger Cleansed Data table that is automatically created when you create an expense in the General Ledger Staged Data table. The currency is a three letter code defined in the Currency [fx_currency] table.

SAP posts the difference to the Exchange rate difference account.

To eliminate the difference, you would have to manually enter the GC value for the clearing item at the same time as the LC value -- instead of letting SAP calculate GC at the current rate -- so the GC value of the clearing item matches the GC value of the open item.

I have personally worked on Group Currency conversions and my company, QS&S, provides this specialist service including the conversion tools which we have built.

You can view records in any of the general ledger tables and make changes if necessary. This field is mandatory on the Cleansed General Ledger Data form to ensure that all cleansed expenses appear in an account in the Bucketing stage of the workbench.

Lauren Zhang: Our company code is live, but we didn't enable Group Currency. What are the things we could do, and have to be careful of?

Rohana Gunawardena: Lauren, thank you for the first question.

What you need to consider is if using a historic exchange rate for an open item clearing posting is the correct accounting process.

In most cases, I would say this is not the correct accounting. When the payment comes in 3 months later, the values are LC 100 GC 110.

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I am glad to see there is so much interest in this topic, with a lot of questions already entered.

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