What is ALM reference currency in SAP FS-BA-PM-DP - Preparation of Data for External Components?

SAP Term: ALM reference currency

• Component: FS-BA-PM-DP

• Component Name: Preparation of Data for External Components

• Description: Currency to which the system translates objects that do not have a reporting currency.

Smart SAP Assistant

• Key Concepts: 
  ALM reference currency is a term used in the SAP FS-BA-PM-DP component, which stands for Funds Management and Budgetary Control. It is a currency that is used to compare different currencies in order to determine the exchange rate between them. This reference currency is used to calculate the exchange rate between two currencies, and it is also used to convert one currency into another. 
  
  How to use it: 
  In order to use the ALM reference currency, you must first set up a reference currency in the system. This can be done by going to the Funds Management and Budgetary Control component in SAP and selecting the “Reference Currency” option. Once you have selected this option, you will be able to enter the desired reference currency. After this is done, you can then use this reference currency to calculate the exchange rate between two currencies. 
  
  Tips & Tricks: 
  When setting up a reference currency in SAP, it is important to make sure that you select a currency that is widely used and accepted. This will ensure that your calculations are accurate and that you are able to get an accurate exchange rate between two currencies. Additionally, it is important to keep in mind that the exchange rate between two currencies can change over time, so it is important to keep an eye on the exchange rate and adjust your calculations accordingly. 
  
  Related Information: 
  For more information on ALM reference currency and how to use it in SAP, please refer to the official SAP documentation on Funds Management and Budgetary Control. Additionally, there are many online resources available that provide detailed information on how to use ALM reference currency in SAP.