1. Administrator's Guide
  2. Setting Up Account Reconciliation Manager
  3. Managing System Settings
  4. Defining Currency
  5. Defining Currency Buckets

Defining Currency Buckets

The currency buckets setup options determine whether your application is configured for one currency environment (for companies that transact only in one currency) or a multiple currency environment (for companies that maintain account balances in multiple currencies). You can have up to three currency buckets; for example, Entered, Functional, and Reporting.

To define Currency Buckets:

  1. In Account Reconciliation, select Manage, and then System Settings. In System Settings, select Currency and then Currency Bucket.
  2. Select a label for the multiple currency bucket for Balances and Transactions data. For example:

    • Entered—Report balances and transactions in the currencies in which they occurred.

    • Functional—Report balances and transactions in the currency associated with the entity that owns the account.

    • Reporting—Report balances and transactions in the currency used for system-wide reporting.

  3. Select whether to Enable the currency bucket to display in the application.
  4. Select a Default Currency; for example, US Dollar (USD).