Multicurrency Requisitions

If the purchasing business unit has multicurrency enabled for requisitions, the requester can change the currency on the service requisition. Rate sheet validation can occur in either the requisition currency or the base currency. After the requisition is approved and sourced, suppliers enter bids in the requisition currency, but they can see amounts in their location currency, which can be different than the requisition currency.

With multicurrency, you can:

• Support global customers by enabling services procurement transaction processes to occur in multiple currencies.

• Enable rate sheet validation to occur in the requisition base currency or the transaction currency.

• Enable users to create expense sheets in a currency different from the requisition currency.

• Create invoices in the supplier location currency, even if it is different from the requisition currency.

If multicurrency requisitions are enabled, the requester's currency appears by default. The requester can change this currency until the requisition is submitted for approval. Each requisition line that you add for the same requisition header must use the same currency.

If multicurrency requisitions are disabled, the purchasing business unit currency is used and cannot be changed.

The system calculates the base currency equivalent for the requisition line. The currency conversion exchange rate is based on the rate type that you define for the selected business unit. The rate type and rate date for currency conversion is stored. The rate type that is defined in the PeopleSoft Purchasing business unit definition is the default rate type. The effective rate date is the date when the requisition will be submitted for approval.