What is 'transaction currency' in SAP SRD-FIN-GL - FIN-General Ledger?

transaction currency - Overview

• Component: SRD-FIN-GL

• Component Name: FIN-General Ledger

• Description: The currency in which a business transaction was originally denominated.

transaction currency - Details

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  Key Concepts: 
  Transaction currency is a currency used to record and process financial transactions in SAP. It is the currency in which all financial transactions are recorded and reported. It is also used to determine the exchange rate for foreign currency transactions. 
  
  How to use it: 
  In SAP, transaction currency is set up in the company code configuration. This is done by entering the currency code and the exchange rate type that will be used for foreign currency transactions. Once this is done, all financial transactions will be recorded and reported in the transaction currency. 
  
  Tips & Tricks: 
  When setting up a company code, it is important to ensure that the correct transaction currency is selected. This will ensure that all financial transactions are recorded and reported accurately. 
  
  Related Information: 
  For more information on setting up a company code in SAP, please refer to the SAP help documentation for SRD-FIN-GL FIN-General Ledger.