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I have a scenario where one company have many sites in different countries.

This has been setup to operate company accounting currency for all sites and operational for many years.

Now they need each site to use their own currency for the internal transactions (dealing with local vendors and other stake holders). Whereas international transactions to be done with the same company accounting currency.

I cannot find any option to have site specific currency setup. Any workaround or solution exist.  

Currency is controlled at the company level, I don’t believe there is any way to change the currency at the site level within the same company.

I am not a finance expert, is there any possibility of using parallel currency set up in company can be used as a site specific currency?

Hi @ProThushA ,

I don’t think it is possible to use Parallel currency for site based transactions as it is used to for Financial Reporting purposes. However, as a workaround you can maintain a custom page in Supplier master data and Customer master data to update the Site wise Currency for respective Supplier or Customer. And then use Custom events to update the Currency Code based on that custom data at Customer Orders, Purchase Orders or any other Currency related transactions.

But this will be very tricky since you need to identify each and every process where Currency is used. (Basically every financial transactions)

Hope this will help.

Regards,

Akila

I am not a finance expert, is there any possibility of using parallel currency set up in company can be used as a site specific currency?

If I recall correctly, Parallel Currency has to be setup at the point of creating the company, you can’t add it later.

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