In SAP Business One, companies can create a Local currency (mandatory for accounting purposes) and a System currency (e.g. for global branches). In addition, vouchers and accounts in Foreign currencies be managed.
Accounts and postings:
- Account definition:
- All currencies: Postings in local and foreign currencies possible. Balances are issued in local and system currency.
- Specific currency (e.g. USD): Bookings are made in the defined Foreign currencyg; balances are displayed in local, system and foreign currency.
- Document equalisation: Payments in foreign currency must be made in the same currency. Clearing in local currency requires a manual journal entry.
Price list and article prices:
- Up to three currencies per price list (main and two additional currencies).
- For foreign customers, the Business partner currency and the corresponding item price is used.
- Journal entries convert amounts in foreign currency into local currency in parallel.
Exchange rate differences:
- Realised differences: Automatic valuation for payment postings.
- Unrealised differences: Open items and foreign currency accounts are revalued at the closing rate.
- Proposals for difference postings in local currency are created, which can be confirmed or rejected manually.
Versino Financial Suite
the Versino Financial Suite automates currency management in SAP Business One by regularly importing current exchange rates from the ECB. It enables correct postings and reports in different currencies and automatically recognises exchange rate differences. This makes international business processes much more efficient and transparent.
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