What is application currency in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: application currency

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Currency used in the processes of determination, valuation, remuneration and so on. The application currency is managed in the customer's application and must be specifically defined for each customer application.

Smart SAP Assistant

• Key Concepts: 
  Application currency is a currency used to define the currency of a transaction in SAP ICM. It is used to calculate the commission and incentive payments for sales representatives. The application currency is set up in the ICM configuration and can be different from the company's base currency.
  
  How to use it: 
  In order to use application currency, it must first be set up in the ICM configuration. This can be done by navigating to the “Currency” tab in the ICM configuration and selecting the desired currency from the drop-down list. Once this is done, all transactions related to commission and incentive payments will be calculated using this currency.
  
  Tips & Tricks: 
  It is important to note that the application currency should be set up before any transactions are made in order for it to take effect. Additionally, it is important to ensure that the application currency is set up correctly as any mistakes could lead to incorrect calculations of commission and incentive payments.
  
  Related Information: 
  For more information on setting up application currency in SAP ICM, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/ICM/7.0/en-US/f8d9f3c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6