<?xml version="1.0" encoding="utf-8"?>
<ManualTopic ID="/baanerp/tc/onlinemanual/000091" xml:lang="en">
	<Header>
		<Title xmlns:ssa="http://www.ssaglobal.com" xmlns:HTML="http://www.w3.org/TR/REC-html40">Euro compliance</Title>
		<Keyword><Level1>Euro compliance</Level1>
		</Keyword>
		<Keyword><Level1>Economic and Monetary Union</Level1>
		</Keyword>
		<Keyword><Level1>EMU currencies</Level1>
		</Keyword>
	</Header>
	<GeneralSection><Paragraph>From 1 January 1999, enterprises that use a currency that is part of the Economic and Monetary Union (EMU) can do their accounting in euros.</Paragraph>
		<List><ListIntro>SSA ERP is Euro-compliant, which means that you can use SSA ERP to:</ListIntro>
			<ListItem>Complete transactions with business partners that use the Euro.</ListItem>
			<ListItem>Do your accounting and financial reporting in Euros.</ListItem>
		</List>
		<List><ListIntro>The following SSA ERP features support the use of the Euro:</ListIntro>
			<ListItem>Multicurrency</ListItem>
			<ListItem><Link href="/baanerp/tc/glossary/glossary#000078" role="glossary">Triangulation</Link>
			</ListItem>
		</List>
		<List><ListIntro>To set up Euro compliance, you must:</ListIntro>
			<ListItem>Indicate in the <GUIRef href="/baanerp/tc/mcs/tcmcs0102m000" role="session">Currencies (tcmcs0102m000)</GUIRef> session whether currencies belong to the EMU.</ListItem>
			<ListItem>Define the currency exchange rates to convert the EMU currencies to the Euro, in the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000" role="session">Currency Rates (tcmcs0108m000)</GUIRef> session. The Euro must be the base currency for these exchange rates.</ListItem>
			<ListItem>Set up your financial companies in one of the following ways: As dependent multicurrency companies that use the Euro as their reference currency. As single currency companies that use the Euro as their currency. Logistic companies must use the same reference currency as the related financial companies.</ListItem>
		</List>
		<Note><SectionTitle>Note</SectionTitle>
			<Paragraph>EMU currencies must be converted to Euros using fixed exchange rates. The Euro must be the base currency for these exchange rates. To achieve this, SSA ERP converts EMU currencies to Euros by using the currency exchange rates that you define in the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000" role="session">Currency Rates (tcmcs0108m000)</GUIRef> session. You must base the exchange rates on the Euro. For example, EUR 1 = NLG 2.2037. You cannot select other exchange rates in other sessions, for example, on order level.</Paragraph>
		</Note>
	</GeneralSection>
	<RelatedTopics><SectionTitle>Related topics</SectionTitle>
		<RelTopic><Link href="/baanerp/tc/onlinemanual/000030" role="manual">Overview of currencies</Link>
		</RelTopic>
		<RelTopic><Link href="/baanerp/tc/onlinemanual/000136" role="manual">Currency Initialization</Link>
		</RelTopic>
	</RelatedTopics>
</ManualTopic>
