What is currency conversion plan in SAP LO-MD - Logistics Basic Data?

SAP Term: currency conversion plan

• Component: LO-MD

• Component Name: Logistics Basic Data

• Description: A plan for converting currency-dependent values of a business object in Logistics from one currency to another. Comprises the employees involved in converting the values and the period during which the values should be converted.

Smart SAP Assistant

• Key Concepts: 
  A currency conversion plan is a tool used in SAP Logistics Basic Data (LO-MD) to convert currencies from one to another. It is used to convert the currency of a document or transaction into the currency of the company code. This allows for easier comparison of financial data across different currencies. 
  
  How to use it: 
  To use a currency conversion plan, you must first create a plan in the SAP system. This can be done by going to the Logistics Basic Data (LO-MD) menu and selecting “Currency Conversion Plan”. Once the plan is created, you can then enter the source and target currencies, as well as the exchange rate. The exchange rate can be manually entered or retrieved from an external source. 
  
  Tips & Tricks: 
  When creating a currency conversion plan, it is important to ensure that the exchange rate is up-to-date and accurate. Additionally, it is important to remember that the exchange rate should be entered in terms of the target currency, not the source currency. 
  
  Related Information: 
  For more information on currency conversion plans in SAP Logistics Basic Data (LO-MD), please refer to SAP Help documentation or contact your local SAP support team.