Use of Dual Currency

Businesses operating in an inflationary market need to be able to maintain a set of books in two currencies: the local currency and a stable currency, commonly U.S. dollars. The JD Edwards EnterpriseOne Advanced Stock Valuation system enables a business to value inventory based on a valuation method, such as Last In, First Out (LIFO) or First In, First Out (FIFO). With dual currency in JD Edwards EnterpriseOne Inventory Management, a second ledger type (XA) enables a business to adjust its inventory in both the domestic currency and the stable currency.

Dual currency in JD Edwards EnterpriseOne Advanced Stock Valuation works with multicurrency accounting, which enables you to do business in multiple currencies and follow the reporting and accounting requirements of the corresponding countries. You must set up multicurrency to use dual currency in JD Edwards EnterpriseOne Advanced Stock Valuation.

Note: Itemizing at the conversion rate results in a different total than if you add up all of the transactions and then multiply by the conversion rate.