Understanding Multicurrency Settings

The Multi-Currency check box on the PeopleTools Options page is a system-wide switch that enables:

• Automatic formatting of those currency amount fields that have associated currency control fields.

• Validation of user entries against the currency’s defined decimal precision.

  This setting causes the system to issue an error if the user attempts to enter a decimal precision that is greater than the precision that is allowed by the currency code definition.

• The display of global currency control fields.

  You can design an application so that fields that are specifically related to multiple currencies can appear globally or be hidden, depending on the implementation. Although multicurrency fields are hidden from pages when the multicurrency option is disabled, the fields still exist in the page buffer; so if they are required fields, they must have default values.

• The hiding of all fields.

  If you implement the application in an enterprise that uses only a single currency, you can hide all of the fields by clearing the Multi-Currency check box. If the enterprise later begins to use multiple currencies, you can redisplay the multicurrency fields by selecting the check box. Apply this technique only to fields that can be globally hidden without affecting the functionality of the application when working in a single currency. Use this technique for user-operated currency control fields, but not for fields that actually display currency. You also need to set the defaults of the currency display fields to the single currency that is used by the enterprise.

  Unless you specifically want to maintain your entire system in a single currency, the Multi-Currency check box remains selected.