CHAPTER 7
Maintaining Currency Types and Currency Pairs
In this chapter, you learn how to customize local and foreign currencies for company codes.
At the end of this chapter, you will be able to:
- Maintain exchange rate types
- Define a standard quotation for exchange rates
- Enter prefixes for direct/indirect quotation exchange rates
- Define translation ratios for currency translation
Currencies
In SAP ERP accounting, transactions are measured in monetary terms. Therefore, it is necessary to specify a currency for each transaction you enter in the system. In order for the system to manage the currency ledgers, you must specify a standard currency ...
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