Understanding Foreign Currency Processing

PeopleSoft software enables you to manage financial information in multiple currencies. You can use a currency code ChartField to designate different currencies within a ledger or store each currency in a different ledger. PeopleSoft software provides specific input, processing, and reporting features that support the European Common Currency (euro), currency conversions, remeasurement, revaluation, translation, and a complete audit trail of all multicurrency processing.

Before you begin to process multiple currencies you should understand how foreign currency processing works in PeopleSoft applications and how to set up your system for multiple currencies.

This section discusses:

• Multiple currency management.

• Multibook.

• Currency and calculation types.

• Revaluation.

• Currency precision.