Understanding Base Currency Conversion Plans
Before you begin the tasks for setting up and running the base currency conversion, review what a conversion plan is and why you want to set up multiple conversion plans in an environment.
A conversion plan contains a list of companies that you plan to convert to a new base currency. When you run the base currency conversion to convert to the new base currency, you run the conversion by plan and environment. The system converts the data for a plan in the same environment that you run the conversion.
For example, you can set up a single conversion plan in which multiple currencies are converted. For Conversion Plan 1, the currencies for the companies are:
Company 100 EUR
Company 200 EUR
Company 300 JPY
Company 400 CAD
Company 500 GBP
Company 600 GBP
Company 700 AUD
Company 800 AUD
Company 900 SEK
Clients with only a few companies to convert to the new base currency might set up one conversion plan for each company, instead of one plan for all companies.
For example, you can set up for multiple plans in which multiple currencies are converted in multiple plans:
For Conversion Plan 1, the currencies for the companies are:
Company 100 EUR
Company 200 EUR
Company 300 JPY
For Conversion Plan 2, the currencies are:
Company 400 CAD
Company 500 GBP
Company 600 GBP
For Conversion Plan 3, the currencies are:
Company 700 AUD
Company 800 AUD
Company 900 SEK
For example, you can set up multiple plans in which each currency is converted in a separate plan:
For Conversion Plan 1, the currencies for the companies are:
Company 100 EUR
Company 200 EUR
For Conversion Plan 2, the currency for Company 300 is JPY.
For Conversion Plan 3, the currency for Company 400 is CAD.
For Conversion Plan 4, the currencies for the companies are:
Company 500 GBP
Company 600 GBP
For Conversion Plan 5, the currencies for the companies are:
Company 700 AUD
Company 800 AUD
For Conversion Plan 6, the currency for Company 900 is SEK.
Clients find that it is easier to manage the conversion and review the results for a single currency, instead of multiple currencies in a plan.
Clients who set up multiple plans must run the base currency conversion one plan at a time, and upon successful completion, delete the conversion log before running the next plan.
To set up a conversion plan, you enter conversion constant information and assign companies to the plan on the Conversion Plan Revisions form of the Conversion Constants program (P0087). When you run the base currency conversion, the system retrieves the exchange rate for each company in the plan from the F0015 table.
As you prepare to set up the conversion plans, ask:
How many companies do I need to convert?
How many different base currencies do I need to convert?
In which environments are the companies I need to convert?
Based on the answers to these questions and any special considerations at the site, such as schedules and resources, carefully evaluate how you want to convert the company base currencies and set up the conversion plans accordingly.