What is currency translation in SAP FS-AM-IM - Item Management?

SAP Term: currency translation

• Component: FS-AM-IM

• Component Name: Item Management

• Description: A function in the currency exchange process. The system translates the amount of a payment item from the source currency transaction currency into the target currency account currency using the valid exchange rate.

Smart SAP Assistant

• Key Concepts: 
  Currency translation is a process used in SAP FS-AM-IM Item Management to convert the value of an item from one currency to another. This is done by using exchange rates that are stored in the system. The exchange rate used is determined by the date of the transaction. 
  
  How to use it: 
  In order to use currency translation, you must first set up the exchange rates in the system. This can be done by entering the exchange rate for each currency pair into the system. Once this is done, you can then use the currency translation feature to convert an item's value from one currency to another. 
  
  Tips & Tricks: 
  When setting up exchange rates, it is important to make sure that they are up-to-date and accurate. This will ensure that the currency translation process is accurate and reliable. Additionally, it is important to keep track of any changes in exchange rates so that they can be updated in the system as needed. 
  
  Related Information: 
  For more information on setting up and using currency translation in SAP FS-AM-IM Item Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide helpful tips and tricks for using this feature.