What is local currency in SAP EPM-SA - SAP Spend Performance Management?

SAP Term: local currency

• Component: EPM-SA

• Component Name: SAP Spend Performance Management

• Description: The currency for a currency measure by which a user prefers to analyze data in a report, usually specific to the users’ home location and/or their preferred default currency. For example, if a company's chosen global currency for reporting is USD but users in France prefer to analyze the data in EURO, they can choose to convert the data to their local currency.

Smart SAP Assistant

• Key Concepts: 
  Local currency is a term used in SAP Spend Performance Management (EPM-SA) to refer to the currency of the country in which a company operates. It is used to track and report financial transactions and performance metrics in the local currency, rather than in a foreign currency. This helps to ensure that financial data is accurately reported and that performance metrics are accurately measured.
  
  How to use it: 
  In SAP Spend Performance Management, local currency is used to track and report financial transactions and performance metrics. To set up local currency, users must first select the country in which their company operates. Once the country is selected, the local currency will be automatically set up for that country. Users can then use this local currency to track and report financial transactions and performance metrics.
  
  Tips & Tricks: 
  When setting up local currency in SAP Spend Performance Management, it is important to ensure that the correct country is selected. This will ensure that the correct local currency is used for tracking and reporting financial transactions and performance metrics. Additionally, users should be aware of any exchange rate fluctuations that may occur between the local currency and other currencies.
  
  Related Information: 
  For more information on setting up local currency in SAP Spend Performance Management, please refer to the official SAP documentation. Additionally, users can find more information on exchange rate fluctuations by visiting websites such as XE Currency Converter or Oanda Currency Converter.