What is 'local currency' in SAP EC-CS - Consolidation?

local currency - Overview

• Component: EC-CS

• Component Name: Consolidation

• Description: The local currency of a consolidation unit. If the local currency is not the same as the group currency, the local currency must be translated into the group currency.

local currency - Details

• 
  Key Concepts: 
  Local currency is a term used in the SAP EC-CS Consolidation component to refer to the currency of the company or group that is being consolidated. This currency is used to convert all other currencies into a single currency for reporting purposes. 
  
  How to use it: 
  The local currency is set up in the consolidation system and is used to convert all other currencies into a single currency for reporting purposes. This allows for easier comparison of financial data across different companies or groups. The local currency can be changed at any time, but it is important to note that any changes will affect all reports and calculations. 
  
  Tips & Tricks: 
  When setting up the local currency, it is important to consider the impact of any changes on the financial data. It is also important to ensure that all currencies are converted into the same local currency for reporting purposes. 
  
  Related Information: 
  For more information on setting up and using the local currency in SAP EC-CS Consolidation, please refer to the SAP Help documentation.