What is home currency in SAP LOD-TEM - Travel OnDemand?

SAP Term: home currency

• Component: LOD-TEM

• Component Name: Travel OnDemand

• Description: The currency stored for the country. This is typically also the currency in which expenses are reimbursed.

Smart SAP Assistant

• Key Concepts: 
  Home currency is a term used in the SAP LOD-TEM Travel OnDemand component. It is the currency that is used to record all financial transactions in the system. This currency is usually the same as the company's local currency, but it can be different depending on the company's needs. 
  
  How to use it: 
  The home currency is set up when the system is first configured. It can be changed at any time, but it is important to note that all existing transactions will be converted to the new home currency. This means that any changes to the home currency should be done with caution. 
  
  Tips & Tricks: 
  When setting up a new home currency, it is important to consider how it will affect existing transactions. If there are any transactions that have already been recorded in a different currency, they will need to be converted to the new home currency before they can be used in the system. 
  
  Related Information: 
  The home currency is an important concept in SAP LOD-TEM Travel OnDemand and should be carefully considered when setting up a new system or making changes to an existing one. It is also important to note that different currencies may have different exchange rates, which can affect how transactions are recorded and reported.