Setting Up Transaction Currencies (Financial Consolidation)
Return to Financial Consolidation Model Overview.
If two business entities use different local currencies, they must capture the amounts in their local currencies. The Financial Consolidation model helps you to capture these amounts in addition to the common transaction currencies. These values are not included in the final result but support the intercompany matching (the reconciliation of intercompany relations).
To allow storage in a transaction currency, an additional element with the pattern currency code followed by _TC
(e.g. CAD_TC
) is required as a child of All Currencies
. These elements must not be added to other parents.
Examples of transaction currencies are indicated below:
Updated August 28, 2023