Recently, we received several inquiries from partners and customers how to change the company currency in SAP Business ByDesign. This question was raised for example from customers in Croatia as the country plans to join the euro area on 1st of January 2023. In this case, customers in Croatia need to change their company currency from Croatian Kuna to Euro on the given key date.
The company currency is defined in the company settings of a set of books.
Changes to a set of books are only possible as long as no journal entries exist in that set of books. For more information please read this help document Configuration: Set of Books. In addition, a conversion with a fixed rate from Croatian Kuna into Euro is needed on the key date.
If the company currency cannot be simply changed, what are the alternatives? In principle, the recommended approach is to set up a new company with a new migration. This can be done in two ways.
Option 1: Create a new company in the existing tenant
When creating a new company in an existing tenant, you can keep historical data in the old company and make use of the existing business configuration and master data. In case of data which depends on your organizational structure, you need to create or maintain it.
One example for organizational dependent data is the profit center derivation.
Another example is the financial data of customers or suppliers.
Drawback:
Certain data such as the company, profit center, cost center must be created with a new key, and not every business configuration can be changed due to veto checks.
Option 2: Start in a new system
When starting in a new system, you have the chance to optimize your system configuration and clean up your master data. In addition, you can use the same IDs, names, etc., because in the new system exists no data.
Drawback:
It is a new implementation, even if you can download data and copy the solution profile from your existing tenant.
Main steps for option 1
Which tasks are needed and in which sequence, if you want to create a new company in the same tenant. From my perspective these are the main steps which need to be considered for option 1:
1. Create a new company in parallel to the old company
Create a new company by creating a new organizational structure (business residence, sales organization, segment, profit center, cost center and so on). All new organizational units need a new key.
Use the existing business configuration, and maintain the organizational dependent settings.
2. Assign the new company to existing set of books
Assign the new company to the existing set of books and define the company settings, especially the company currency.
3. Maintain company dependent data in master data
Add the new company in the existing master data and maintain the organizational dependent data.
4. Transfer employees to the new company
All employees must be transferred from the old to the new company. Unfortunately, “fire and re-hire” is the only option.
I recommend to define a new termination reason, for example “Reorg” to see the transfers from the old to the new company.
5. Extract all open transactions and migrate them to the new company
Perform a migration for the new company like a standard migration. For more information please read Configuration: Understand the Overall Migration Process. Please check, if you need to migrate open purchase and sales orders as you cannot use existing orders from the old company.
Remark:
To prepare the migration templates, you can use the data extraction tool in SAP Business ByDesign. For more information please read Perform Data Extraction. In addition, you can use reports and lists from work center views to export data.
Before the upload
6. Update user access rights
Please ensure, that employees can only create and edit data for the new company. Therefore, you need to check and update the access rights of all your employees, especially the read and write access to the associated data (access restrictions) and for which business data like company or site (access context). For more information please read User and Access Management.
The new cost center will be defaulted for self-services of an employee.
7. Delimit the old company
Finally, delimit the old company by maintaining the end date. The validity of an organizational unit is considered when creating new data. This ensures that users get an error message when they try to create for example a purchase order for the old company.
This short explanation helps to find the right approach in case you need to change the company currency. In addition, it guides you through the main steps for a new company in the same tenant.
The company currency is defined in the company settings of a set of books.
Changes to a set of books are only possible as long as no journal entries exist in that set of books. For more information please read this help document Configuration: Set of Books. In addition, a conversion with a fixed rate from Croatian Kuna into Euro is needed on the key date.
If the company currency cannot be simply changed, what are the alternatives? In principle, the recommended approach is to set up a new company with a new migration. This can be done in two ways.
Option 1: Create a new company in the existing tenant
When creating a new company in an existing tenant, you can keep historical data in the old company and make use of the existing business configuration and master data. In case of data which depends on your organizational structure, you need to create or maintain it.
One example for organizational dependent data is the profit center derivation.
Another example is the financial data of customers or suppliers.
Drawback:
Certain data such as the company, profit center, cost center must be created with a new key, and not every business configuration can be changed due to veto checks.
Option 2: Start in a new system
When starting in a new system, you have the chance to optimize your system configuration and clean up your master data. In addition, you can use the same IDs, names, etc., because in the new system exists no data.
Drawback:
It is a new implementation, even if you can download data and copy the solution profile from your existing tenant.
Main steps for option 1
Which tasks are needed and in which sequence, if you want to create a new company in the same tenant. From my perspective these are the main steps which need to be considered for option 1:
1. Create a new company in parallel to the old company
Create a new company by creating a new organizational structure (business residence, sales organization, segment, profit center, cost center and so on). All new organizational units need a new key.
Use the existing business configuration, and maintain the organizational dependent settings.
2. Assign the new company to existing set of books
Assign the new company to the existing set of books and define the company settings, especially the company currency.
3. Maintain company dependent data in master data
Add the new company in the existing master data and maintain the organizational dependent data.
4. Transfer employees to the new company
All employees must be transferred from the old to the new company. Unfortunately, “fire and re-hire” is the only option.
I recommend to define a new termination reason, for example “Reorg” to see the transfers from the old to the new company.
5. Extract all open transactions and migrate them to the new company
Perform a migration for the new company like a standard migration. For more information please read Configuration: Understand the Overall Migration Process. Please check, if you need to migrate open purchase and sales orders as you cannot use existing orders from the old company.
Remark:
To prepare the migration templates, you can use the data extraction tool in SAP Business ByDesign. For more information please read Perform Data Extraction. In addition, you can use reports and lists from work center views to export data.
Before the upload
- Please check especially with respect to fixed assets, that the right values are used.
- Ensure that old bank account data is no longer valid, otherwise bank statement processing will determine the “old” bank accounts and clear old items.
6. Update user access rights
Please ensure, that employees can only create and edit data for the new company. Therefore, you need to check and update the access rights of all your employees, especially the read and write access to the associated data (access restrictions) and for which business data like company or site (access context). For more information please read User and Access Management.
The new cost center will be defaulted for self-services of an employee.
7. Delimit the old company
Finally, delimit the old company by maintaining the end date. The validity of an organizational unit is considered when creating new data. This ensures that users get an error message when they try to create for example a purchase order for the old company.
This short explanation helps to find the right approach in case you need to change the company currency. In addition, it guides you through the main steps for a new company in the same tenant.
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