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

SAP Term: transaction currency

• Component: EC-CS

• Component Name: Consolidation

• Description: The currency in which a business transaction is processed and booked. The business transaction can be posted in transaction currency as well as local currency. This can occur when the trading partners use different local currencies.

Smart SAP Assistant

• Key Concepts: 
  Transaction currency is a term used in the SAP EC-CS Consolidation component. It is the currency in which all transactions are recorded and reported. This currency is used to compare financial data across different entities and countries. It is also used to convert local currencies into a single currency for reporting purposes. 
  
  How to use it: 
  In order to use transaction currency, it must first be set up in the SAP system. This can be done by going to the “Currency” tab in the EC-CS Consolidation component and selecting the desired currency. Once this is done, all transactions will be recorded and reported in this currency. 
  
  Tips & Tricks: 
  When setting up transaction currency, it is important to ensure that all entities are using the same currency. This will ensure that financial data can be accurately compared across different entities and countries. Additionally, it is important to keep track of exchange rates when converting local currencies into the transaction currency. 
  
  Related Information: 
  For more information on setting up transaction currency in SAP EC-CS Consolidation, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed instructions on how to set up and use transaction currency in SAP EC-CS Consolidation.