What is local currency in SAP EPM-IC - SAP BusinessObjects Intercompany?

SAP Term: local currency

• Component: EPM-IC

• Component Name: SAP BusinessObjects Intercompany

• Description: The local reporting currency assigned to each company.

Smart SAP Assistant

• Key Concepts: 
  Local currency is a term used in SAP BusinessObjects Intercompany (EPM-IC) to refer to the currency of the company that is being reported on. This currency is used to measure the financial performance of the company and is used as the basis for all financial calculations. 
  
  How to use it: 
  In order to use local currency in SAP BusinessObjects Intercompany, you must first set up a local currency in the system. This can be done by going to the “Settings” tab and selecting “Local Currency”. From there, you can select the currency you want to use as your local currency. Once this is done, all financial calculations will be based on this local currency. 
  
  Tips & Tricks: 
  When setting up a local currency in SAP BusinessObjects Intercompany, it is important to make sure that you select a currency that is widely accepted and used in your region. This will ensure that all financial calculations are accurate and consistent. Additionally, it is important to keep track of any changes in exchange rates so that your financial calculations remain accurate. 
  
  Related Information: 
  In addition to setting up a local currency in SAP BusinessObjects Intercompany, you can also set up multiple currencies for reporting purposes. This allows you to compare financial performance across different currencies and regions. Additionally, you can also set up exchange rates for different currencies so that your financial calculations remain accurate.