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Venezuela Currency Changeover

Former Member
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Hi Group

I hope by this time everyone would be aware about Venezuela is changing Legal Currency and those companies have Venezuelean Entity have to go through Currency Changeover Activities.

I want to discuss which solution is better.

1. New Company Code with new currency

2. Existing Company Code with Currency changeover

Which is less painful? Appreciate your suggestions..



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Answers (1)

Former Member
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There are some OSS Notes on currency changeover. In Singapore, there was a change for reporting purpose recently. According to that, reporting should be made in a currency in which the majority of the transactions are done.

Further in ECC 5.0 version, in IMG there is a node Local currency changeover. It is in > IMG > Cross Application Components > Local Currency Changeover.

I have not worked on this but this may be helpful.

In one of the projects, we created a new Company Code with a new Company Code currency. The entire configuration we have replicated and on the cut off date we did data conversion - GL Closing Balances / Customer open items / Vendor Open Items / Open PO's etc. The reason this approach is taken is basically not to disturb the past transaction data.