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Currency property for parents - Best practice?

Former Member
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Hello,

I understand the currency property for base entities is for their LC. But what is the best practice for an organization that is just using standard currency conversion functionality? should the parents' currency property be blank, USD(Group currency) or something else??\\?

Thanks.    

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hi Zack,

The same principle applies to the parent entities also, to define their respective local currencies.

Hope this helps.

Former Member
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Well, its not always a legal hierarchy. There are always custom hierarchies like managerial view hiearchy....whats recommended there, Mr. Know it all?    

Former Member
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Hi Zack,

The local currency of a particular entity is independent of the hierarchy. Even if a particular entity is present in multiple hierarchies, ideally, the local currency of that entity remains the same.

Former Member
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well, May be I should explain with an example. Company code 0127 for bulgaria is in two hiearchies. Now to your point, I agree, that bulgaria, being base level company code has currency of EUR.Now in the 1st hierarchy,the parent is a holding company, which again to your point, will use its own currency. but lets say 2nd hierarchy is a custom hierarchy, where they have Emerging Markets as the parent. What is the recommended best practice for the currency value of emerging_markets ID since its a parent not a base level member of entity dimension?    

former_member186498
Active Contributor
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Hi Zack,

"What is the recommended best practice for the currency value of emerging_markets ID", there aren't best practice, it depends if you use this node for reports and in which currency you prefer to see.

For parent you can leave it blank, especially if you have several children under this parenth with different currency.

You will see the total on this parent in the Reporting currency you used.

Kind regards

     Roberto

Answers (0)