Local Currency Code (A55)

Purpose: Use this screen to define the base currency code used for conversions.

Code field: Enter the code for the base currency from which you perform conversions. Currency codes defined in the Currency table display to the right of your entry. You must enter a valid currency code.

Purchase order entry and receipts: For example, if the local currency code is defined as U.S. dollars and you enter a purchase order for a German vendor, the system will convert the currency from the dollar to the Deutsche Mark in Purchase Order Entry, and perform a reverse conversion (Deutsche Mark to U.S. dollars) for Purchase Order Receipts from this vendor.

Alternate currency pricing: If you use alternate currency pricing (the Use Alternate Currency Pricing (H89) system control value is selected), the system uses the currency code defined in the Local Currency Code system control value as the local currency; any other currency code is considered an alternate (foreign) currency.

See Working with Currency (WCUR).

You can leave this field blank if you have no requirement for currency conversion.