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Indicator: Only Manage Balances in Local Currency (FS00)

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I am trying to undestand the use of this flag in the G/L master data account.

I understand the following case 1) "Accounts which are managed on an open item basis and have the same types of
items posted in different currencies, but always allow clearing to be made if
the local currency amounts correspond"

But I cannot understand this other case:

2) "Accounts which are not managed on an open item basis and not kept in foreign
currencies." What does it mean with  "not ketp in foreign currency"?

Where can I see the difference between of having this flag and not having?

Which transactions will be affected because of having this flag?

Which type of accounts (except account of the case 1 -example GR/IR-)  should have this flag? 

I was reading many discussions of this flag but I could not soved my doubt.



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Hey Cecilia,

I have the same doubt as you on 2). I understand the first case but the second case I don't really understand. Did you get any answer on this that you can share?