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Overview of Multiple Reporting Currencies

The Multiple Reporting Currencies (MRC) feature allows you to report and maintain accounting records at the transaction level, in more than one functional currency. You do this by defining one or more reporting sets of books, in addition to your primary set of books. In your reporting sets of books, you maintain records in a functional currency other than your primary functional currency. You can set up multiple reporting sets of books and associate them with a primary set of books.

Your primary functional currency is the currency you use to record transactions and maintain your accounting data within Oracle Applications. The functional currency is generally the currency in which you transact most of your business and the one you use for legal reporting.

A reporting functional currency is a currency other than your primary functional currency for which you need to report accounting data. You must define a set of books for each of your reporting functional currencies.

When you enter transactions in Oracle Applications, they are converted, as needed, into your primary functional currency and each of your reporting functional currencies. You log into a reporting responsibility to inquire and report on transactions and account balances in your reporting functional currencies. For more information, see MRC Features.

Oracle Applications Support for MRC

The following Oracle Applications support Multiple Reporting Currencies:

· General Ledger · Payables
· Purchasing · Receivables
· Cash Management · Projects
· Assets · Cost Management

Note: Cost Management amounts are converted to a specified reporting currency when you request a report. The converted amounts, however, are not stored in the Cost Management subledger. For more information, see Cost Management.

See Also

When to Use MRC

MRC Features

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