What is 'transaction currency' in SAP EPM-IC - SAP BusinessObjects Intercompany?

transaction currency - Overview

• Component: EPM-IC

• Component Name: SAP BusinessObjects Intercompany

• Description: The currency used for an entry in transactions between the companies.

transaction currency - Details

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  Key Concepts: 
  Transaction currency is a term used in SAP BusinessObjects Intercompany (EPM-IC) to refer to the currency used to record and report financial transactions. It is the currency in which the transaction is recorded and reported, regardless of the currency in which it was originally denominated. 
  
  How to use it: 
  Transaction currency is used to ensure that all financial transactions are recorded and reported in a consistent manner. This allows for easier comparison of financial data across different entities and countries. To set up a transaction currency, users must first define a currency type in the system. This can be done by navigating to the “Currency Types” tab in the system settings. Once a currency type has been defined, users can then assign a transaction currency to each entity in the system. This can be done by navigating to the “Entity Settings” tab and selecting the “Transaction Currency” option. 
  
  Tips & Tricks: 
  When setting up a transaction currency, it is important to ensure that all entities have the same transaction currency. This will ensure that all financial transactions are recorded and reported in a consistent manner across all entities. Additionally, it is important to ensure that all entities have the same exchange rate when recording and reporting financial transactions. 
  
  Related Information: 
  For more information on setting up transaction currencies in SAP BusinessObjects Intercompany (EPM-IC),