Types of Currency

PeopleSoft applications use a currency code to identify and track individual currencies. Although the system does not require it, Oracle suggests that you use the International Standards Organization (ISO) currency codes supplied with the application. You may use an unlimited number of currencies in PeopleSoft applications.

Base Currency

A business unit can have only one base currency. This is generally the local currency for the organization. Accounting rules or other circumstances may dictate that it be different.

In PeopleSoft Receivables, you assign a base currency to each business unit on the general ledger Definition page. PeopleSoft Receivables business units use the base currency of their associated general ledger business units. Once established, the base currency of a general ledger business unit cannot be changed.

The system stores all customer-level accounting data in the business unit base currency. This includes balance information stored on the Customer Information and Balances table (PS_CUST_DATA), aging information stored on the Customer Aging table (PS_CUST_AGING), and history information maintained on the Customer History table (PS_CUST_HISTORY).

Entry and Payment Currency

Any currency in which a business unit conducts business—other than its base currency—is a foreign currency. This documentation refers to a foreign currency as the entry currency when describing the currency in which customers are billed and as the payment currency when describing the currency in which customers pay.

The system stores all item-level accounting data in both the business unit base currency and the entry currency. Maintaining accounting data in this parallel form enables you to view item-level information in either currency.