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Author's profile photo Bindhu Simry T

Foreign Currency Valuation and related apps

In this blog, I would like to give you a brief detail about the Foreign currency valuation capability and the relevant fiori apps & SSCUI available for the feature.

Foreign currency valuation is one of the closing operations, which is needed if your organisation manages amounts in foreign currencies. It comprises of following functions.

· Valuation of Foreign Currency Balance Sheet Accounts.

· Valuation of Open Items in Foreign Currency.

Different fiori apps and SSCUI involved for this features are detailed below:

1) Exchange Rate definition: Specific exchange rate for the foreign currencies can be configured in this app – Currencies.

2) Valuation Method definition: Valuation method can be configured using the app Ledgers and Valuation where you can provide the specifications like valuation procedure to be used, how the exchange rate differences determined are posted and also the basis with which the exchange rate is determined. You can also assign the Valuation area and its assignment to the valuation method and Accounting principles.

3) Foreign Currency Valuation app: This is app is used to perform the foreign currency valuation and to post the valuation difference. The relevant details like Company code, valuation area, key date, Vendor/Customer, GL Account, run mode etc. can be provided here.

More details about Foreign currency valuation can also be found in the below link.

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