What is accounting currency in SAP FS-CMS - Collateral Management System?

SAP Term: accounting currency

• Component: FS-CMS

• Component Name: Collateral Management System

• Description: The currency in which a bank renders its accounts. &EXAMPLE& Deutsche Bank is a German bank for which the local currency is Euro but the accounting currency is the USD.

Smart SAP Assistant

• Key Concepts: 
  Accounting currency is a term used in the FS-CMS Collateral Management System (CMS) of SAP. It is the currency in which all financial transactions are recorded and reported. This currency is usually the same as the base currency of the company, but it can be different depending on the company's needs. 
  
  How to use it: 
  In order to use accounting currency in SAP, you must first set up a base currency for your company. This will be the currency that all financial transactions are recorded and reported in. Once this is done, you can then set up an accounting currency for each transaction. This will be the currency that is used to record and report the transaction. 
  
  Tips & Tricks: 
  When setting up an accounting currency, it is important to make sure that it is consistent with the base currency of your company. This will ensure that all financial transactions are recorded and reported accurately. Additionally, it is important to keep track of any changes in exchange rates between currencies, as this can affect the accuracy of your financial reports. 
  
  Related Information: 
  For more information on setting up an accounting currency in SAP, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed instructions on how to set up an accounting currency in SAP.