JD Edwards EnterpriseOne Multicurrency Processing Overview

If the company does business internationally, you work with different currencies. As part of working with different currencies, the accounting system has additional setup requirements and added complexity. You must be able to process transactions in different currencies and follow the reporting and accounting requirements of the countries in which you do business.

Some of the fundamental requirements of an international company include the ability to:

• Convert foreign currency amounts to domestic currency amounts.

• Receive or make payments in a domestic currency, foreign currency, or an alternate currency (a currency other than the foreign or domestic currency).

• Revalue currencies as exchange rates fluctuate.

• Restate amounts using one common currency for consolidated reporting.

Some of the programs in the JD Edwards EnterpriseOne Multicurrency Processing system from Oracle are used only by multicurrency clients, while others are standard JD Edwards EnterpriseOne programs with multicurrency functionality. For example, the program that you use to enter an invoice in a foreign currency is the same program that you use to enter an invoice in a domestic currency.

JD Edwards EnterpriseOne Multicurrency Processing enables you to work with an unlimited number of currencies that can be consolidated, restated, compared, and processed in many ways. You can use any currency in the world. With JD Edwards EnterpriseOne Multicurrency Processing, you can create transactions in a foreign currency and the system automatically converts the transaction to the domestic currency. You can also enter receipts and create payments in an alternate currency. You designate a currency preference for each of the companies, suppliers, customers, accounts, and employees.