What is 'currency translation' in SAP EPM-BPC - Business Planning and Consolidation?

currency translation - Overview

• Component: EPM-BPC

• Component Name: Business Planning and Consolidation

• Description: A process that converts amounts from the source currency into the target currency using the valid exchange rate.

currency translation - Details

• 
  Key Concepts: 
  Currency translation is a process used in SAP Business Planning and Consolidation (EPM-BPC) to convert financial data from one currency to another. This process is necessary when consolidating financial data from multiple entities that use different currencies. Currency translation is used to ensure that all financial data is reported in the same currency, allowing for accurate comparison and analysis.
  
  How to use it: 
  In SAP Business Planning and Consolidation, currency translation is done by setting up a currency translation type. This type defines the exchange rate used for the conversion, as well as the source and target currencies. Once the currency translation type has been set up, it can be used to convert financial data from one currency to another.
  
  Tips & Tricks: 
  When setting up a currency translation type, it is important to ensure that the exchange rate used is accurate and up-to-date. This will ensure that the converted financial data is accurate and reliable. Additionally, it is important to ensure that the source and target currencies are correct, as this will determine which currencies are being converted.
  
  Related Information: 
  For more information on currency translation in SAP Business Planning and Consolidation, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_BUSINESS_PLANNING_AND_CONSOLIDATION/10.0/en-US/f3f9a7d8b2e04c8a9f3d7c2b6f5e4d1a.html