Multiple Currency Management

You can define and maintain tables that describe currency codes, exchange rates, market rates, and currency rate types. All PeopleSoft applications use the same market rate and currency pages and tables, enabling you to administer centralized currency controls throughout the PeopleSoft integrated product lines. For example, Enterprise Integration Points (EIPs) can be used to keep market rate data synchronized across multiple databases, such as the PeopleSoft Financials, Supply Chain Management, and the PeopleSoft Human Resources Management System.

PeopleSoft software converts journal entries that are denominated in a foreign currency to the base currency and stores all relevant information for later analysis and reporting. Multicurrency journal entries are posted in both foreign and base currencies. A foreign currency is any currency other than the base currency.

PeopleSoft software translates posted balances into different currencies according to the rules that you define and calculates gains or losses due to restatement. As with other background processes, you can run this process at any time.