Czech Republic's Currency

[doanphuongthuy1811]

Hi everyone, I am joining project which is related to Czech Republic and now I am quite confused about Czech Republic's currency. Please help me clear below questions. 

1) About company code currency, now Czech's company code currency is automatically assigned to CZK (country currency), but I heard that Czech is soon about to use EUR as their official currency beside CZK. So in this case, Czech's company code currency will be automatically assigned to EUR or we can choose between CZK and EUR? When will SAP make the change in the system if Czech officially use EUR as their currency? 

2) About Functional currency, I found the article like this Functional currency in Czech accounting - BDO , I want to use EUR as functional currency, so Tax report might be submitted in EUR? What happen in case that I already set functional currency is EUR but in the future, company code currency must be changed to EUR? 

Please help me. Thanks in advance.

[HenrikeGrötecke]

forwarded to experts

[jansvaton]

Let me react on your next questions (in italic) related to my earlier reply. I need to precise my earlier answers.

Thank you for your answer. Now I implement S4HANA Public Cloud, and the company code is automatically assigned to CZK. But my customer wants company code currency must be EUR. What should I do in this case? You said [This means that if the chosen functional currency is EUR, this needs to be currency of the main company code.] it means both of functional currency and company code currency are EUR? Can we set like this? Please kindly help me to answer the question..

No this was misunderstanding, you can still use company code currency CZK and set functional currency as EUR. In this case you can still make tax reporting in CZK currency, which is still legally required and for accounting purposes you can use functional currency EUR, for more details please check SAPhelp Define Functional Currency | SAP Help Portal

And when Czech use EUR as official currency, company code currency will be automatically assigned to EUR?

This will be only in the case when CZ will become part of EURO zone, which may happen sometime in the future, which not the currently considered for CZ.

[jansvaton]

CZK currency is still possible to use as main currency according to § 24a letter a) of The accounting law no. 563/1991 Coll. According to the § 24a letter b) is possible to use other foreign currencies as main currency if the currency is chosen as functional currency. Allowed foreign currencies are 1. Euro, 2. USD and 3. GBP.

This means that if the chosen functional currency is EUR, this needs to be currency of the main company code. SAP supports the functionality of the functional currency documented in SAP help portal S/4HANA ON-PREMISE and in S/4HANA Cloud .

[doanphuongthuy1811]

Thank you for your answer. Now I implement S4HANA Public Cloud, and the company code is automatically assigned to CZK. But my customer wants company code currency must be EUR. What should I do in this case? You said [This means that if the chosen functional currency is EUR, this needs to be currency of the main company code.] it means both of functional currency and company code currency are EUR? Can we set like this? Please kindly help me to answer the question..

[doanphuongthuy1811]

And when Czech use EUR as official currency, company code currency will be automatically assigned to EUR?