Chapter 7SPECIAL AREAS

Some of the areas in the FICO modules are complex, and deserve special attention from an interview and consulting point of view. This chapter discusses some of these important areas.

7.1 FOREIGN CURRENCIES

You carry out accounting for a company code in the country currency (local currency) of the company code. Therefore, you must specify the local currency in the system for each company code. All other currencies used are indicated as foreign from the point of view of the company code. There are several situations in which you need foreign currencies: (1) to post and save receivables and payables in foreign currency, (2) to make payments in foreign currency, (3) to manage accounts in foreign currency (foreign currency balance ...

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