What is group currency in SAP EC-CS - Consolidation?

SAP Term: group currency

• Component: EC-CS

• Component Name: Consolidation

• Description: The currency assigned to a consolidation group. If the local currency of one consolidation unit differs from the group currency, it is necessary to perform a currency translation of the local currency data into the group currency, prior to running the consolidation.

Smart SAP Assistant

• Key Concepts: 
  Group currency is a feature of the SAP EC-CS Consolidation component that allows users to define a single currency for a group of companies. This currency is used to convert all the financial data of the companies in the group into a single currency, making it easier to compare and analyze the financial performance of the group. 
  
  How to use it: 
  To use group currency, users must first define a group currency in the SAP system. This can be done by going to the “Group Currency” tab in the EC-CS Consolidation component. Once a group currency is defined, all financial data for companies in the group will be converted into this currency. 
  
  Tips & Tricks: 
  When defining a group currency, it is important to consider which currency will be most useful for analyzing the financial performance of the group. For example, if most of the companies in the group are based in Europe, then it may make sense to choose the Euro as the group currency. 
  
  Related Information: 
  For more information on using group currency in SAP EC-CS Consolidation, please refer to SAP’s official documentation on this topic. Additionally, there are many online tutorials and videos available that provide step-by-step instructions on how to set up and use group currency in SAP EC-CS Consolidation.