Understanding Currency

If your organization operates in a global environment, your business tasks are probably global, too. You need to track personnel salaries and reimbursement amounts in multiple currencies, perhaps even multiple currency rate types, yet keep an eye on the bottom line by using one currency as a point of reference to track your expenses and costs worldwide.

Understanding currency in PeopleSoft is a two-part process:

• Understanding the mechanics of defining currency codes, types, exchange rates, and base currency, which are universal to HCM.

• Understanding how some of the PeopleSoft HCM applications use this information. For example, PeopleSoft Global Payroll has extensive, application-specific currency functionality. For details of application-specific currency issues, see the application-specific documentation.