What is multi-currency in SAP FS-PM - Policy Management?

SAP Term: multi-currency

• Component: FS-PM

• Component Name: Policy Management

• Description: A function that allows you to create and manage contracts in multiple currencies.

Smart SAP Assistant

• Key Concepts: 
  Multi-currency is a feature of the FS-PM Policy Management component of SAP that allows users to manage multiple currencies in a single system. This feature allows users to easily convert between currencies, track exchange rates, and manage currency-specific transactions. 
  
  How to use it: 
  To use the multi-currency feature, users must first set up the currencies they wish to use in the system. This can be done by entering the currency codes and exchange rates into the system. Once this is done, users can then enter transactions in any of the currencies they have set up. The system will automatically convert between currencies when needed. 
  
  Tips & Tricks: 
  When setting up multiple currencies in the system, it is important to ensure that all exchange rates are up to date. This will ensure that all transactions are accurately converted between currencies. Additionally, it is important to regularly check for any changes in exchange rates and update them accordingly. 
  
  Related Information: 
  For more information on multi-currency in SAP FS-PM Policy Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/FS_PM_POLICY_MANAGEMENT/latest/en-US