| # Currency systems and currency rates In a single currency system, ERP LN converts amounts from the transaction currency into the reference currency. You must define the currency rates between: The external currencies and the reference currency. In a dependent currency system, ERP LN converts amounts from the transaction currency into the reference currency and from the reference currency into the other home currencies. You must define the currency rates between: The external currencies and the reference currency. The reference currency and the other home currencies. In an independent currency system, ERP LN converts amounts from the transaction currency directly into the reference currency and into the other home currencies. You must define the currency rates between: The external currencies and the reference currency. The external currencies and the other home currencies. In a standard currency system, ERP LN converts amounts from the transaction currency directly into the local currency and the reporting currencies. You must define the currency rates between: All foreign currencies and all home currencies of the financial companies of a group. All foreign currencies and the reference currency. |