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<ManualTopic ID="/baanerp/tf/onlinemanual/cri000740" xml:lang="en">
   <Header>
      <Title>External euro initialization</Title>
      <Keyword type="header" order="d1e1814413">
         <Level1>External</Level1>
         <Level2>euro initialization</Level2>
      </Keyword>
      <Keyword type="header" order="d1e1814418">
         <Level1>Euro initialization</Level1>
         <Level2>external</Level2>
      </Keyword>
   </Header>
   <GeneralSection>
      <Paragraph>Only external currency initialization of the euro is supported.
		You cannot convert transaction currencies to other currencies than euros.</Paragraph>
      <Paragraph>External euro initialization is used to convert the selected
		transaction currencies of order contracts and service orders to euros. After
		external euro initialization, the financial transactions still to be performed
		for the contracts and service orders are completed in euros.</Paragraph>
      <Paragraph>The difference between external conversion in LN and the
		conversion in LN ’s predecessor systems is that in LN, open
		purchase and sales orders are <GUIRef href="" role="manual">not</GUIRef> converted; this is because
		in LN the
		complexity of the order-related data to be converted has increased
		significantly, and the risk of data corruption in specific situations is
		greater than in the preceding systems. Reconciliation of data in general, and
		financial and operations-management data in particular, is better controlled in LN than it
		was. Also, the business need for a conversion of open orders is less urgent,
		because in most cases, the lifetime of orders is limited. Note that, after
		external initialization, for the business partners that have changed their EMU
		currency into euro, new orders will be generated/defaulted in the new euro
		currency. Contracts, which typically have a longer lifetime, will be
		converted.</Paragraph>
      <Paragraph>To use euros for <Emphasis>new</Emphasis> orders and contracts
		with your business partners, you can change the business partner’s default
		currency to euro in the same external euro initialization. If your business
		partners want to use euros for future orders and existing contracts, you must
		perform external euro initialization for those business partners.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Open invoice amounts</SectionTitle>
      <Paragraph>Legal rules and accounting principles do not permit you to
		change the currency or the amount of registered purchase and sales invoices.
		Therefore, LN does not change the amounts of open invoices in <GUIRef href="/baanerp/ci" role="package">Invoicing</GUIRef> and in the <GUIRef href="/baanerp/tf" role="package">Financials</GUIRef> database during
		external currency initialization.</Paragraph>
      <Paragraph>After external currency initialization, you can use the external
		translation functions to handle open invoices that are in EMU currencies. See
		"External euro translation in <GUIRef href="/baanerp/tf" role="package">Financials</GUIRef>," later in this chapter.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>To convert price books and price lists</SectionTitle>
      <Paragraph>You can use price books and price lists for multiple business
		partners. When you have run external euro initialization for all the business
		partners that use a price list or a price book, you can run external
		non-business partner related euro initialization to change the price-list
		currency and the price-book currencies to euro.</Paragraph>
      <Paragraph>If you do not run external euro initialization for all the
		business partners that use a price list or a price book, you can copy the price
		list and the price book and change the currency of the copy.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>To adapt the bank payment files</SectionTitle>
      <Paragraph>If the bank currency is an EMU currency, payments can be made in
		either the national currency or the euro. If you use a bank file to report
		payments to your bank, you must adapt the bank payment file to reporting in
		euros instead of EMU currencies after external euro initialization.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>To perform external euro initialization</SectionTitle>
      <Paragraph>You perform euro currency initialization in the same way as
		described for internal currency initialization under "The
		Currency-Initialization Process."</Paragraph>
      <Paragraph>This chapter only describes the differences with internal
		currency initialization and the additional information that only applies to
		external euro initialization.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Prerequisites</SectionTitle>
      <ProcedureList>
         <ListIntro>Before you can carry out external euro initialization, you
		  must perform these actions in each company of the conversion
		  cluster:</ListIntro>
         <ListItem>Define the euro currency in the <GUIRef href="/baanerp/tc/mcs/tcmcs0102m000" role="session">Currencies (tcmcs0102m000)</GUIRef> session. The <GUIRef href="/baanerp/tc/mcs/tcmcs0102m000#tcmcs002.emuc" role="manual">EMU Currency</GUIRef> check box must be cleared.</ListItem>
         <ListItem>Ensure that the company has the euro as "Transition Currency"
		  (from Infor LN FP5) or "Euro Currency" (in previous versions) defined in
		  the <GUIRef href="/baanerp/tc/emm/tcemm1170m000" role="session">Companies (tcemm1170m000)</GUIRef> session.</ListItem>
      </ProcedureList>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>External conversion type</SectionTitle>
      <List>
         <ListIntro>In the <GUIRef href="/baanerp/tc/cri/tccri7101s000" role="session">CI Clusters (tccri7101s000)</GUIRef> session, you can select two types of external
		  conversion:</ListIntro>
         <ListItemHead>
            <GUIRef href="/baanerp/tc/domains/cri.clty#external.bp" role="option">External BP</GUIRef>
         </ListItemHead>
         <ListItem> 
            <List>
               <ListIntro>Converts the transaction-currency amounts and currencies
				that are linked to specific business partners or a range of business partners.
				For example:</ListIntro>
               <ListItem>Open contracts</ListItem>
               <ListItem>Business-partner currencies and insured credit
				amounts</ListItem>
            </List>
         </ListItem>
         <ListItemHead>
            <GUIRef href="/baanerp/tc/domains/cri.clty#external.non.bp" role="option">External Non BP</GUIRef>
         </ListItemHead>
         <ListItem>Converts the transaction-currency amounts and currencies that
		  are not linked to any business partners, for example, price-list currencies.</ListItem>
      </List>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Conversion-cluster companies for external
		conversion</SectionTitle>
      <Paragraph>LN generates the same conversion-cluster companies for
		internal currency initialization and external euro initialization. You cannot
		change the list of conversion-cluster companies that LN generates.
		Therefore, external conversion is carried out for all companies of the
		conversion cluster.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Conversion-cluster transaction currencies</SectionTitle>
      <Paragraph>When you create a conversion cluster for external conversion, LN generates
		the list of conversion transaction currencies. It includes all currencies used
		by all the companies of the conversion cluster.</Paragraph>
      <Paragraph>In the <GUIRef href="/baanerp/tc/cri/tccri7501m000" role="session">CI Clusters (tccri7501m000)</GUIRef> session, from the <Link href="/baanerp/tc/glossary/glossary#specific" role="glossary">appropriate</Link> menu, select <GUIRef href="/baanerp/tc/cri/tccri7501m000#exec.user.3" role="manual">Specify Transaction Currencies</GUIRef> to start the <GUIRef href="/baanerp/tc/cri/tccri7104m000" role="session">CI Cluster Transaction Currencies (tccri7104m000)</GUIRef> session. You must use this
		session to indicate for each currency whether it must be converted to euro.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Transaction-currency rates</SectionTitle>
      <List>
         <ListIntro>In the <GUIRef href="/baanerp/tc/cri/tccri7100m000" role="session">CI Rates (tccri7100m000)</GUIRef> session, you must define the currency exchange-rates
		  between the EMU transaction currencies and the euro as follows:</ListIntro>
         <ListItem>The fixed rates between the EMU currencies and the euro must be
		  used.</ListItem>
         <ListItem>The <GUIRef href="/baanerp/tc/cri/tccri7100m000#tccri700.bcur" role="manual">Base Currency</GUIRef> must be euro.</ListItem>
         <ListItem>The <GUIRef href="/baanerp/tc/cri/tccri7100m000#tccri700.ratf" role="manual">Rate Factor</GUIRef> must be 1.</ListItem>
         <ListItem>The <GUIRef href="/baanerp/tc/cri/tccri7100m000#tccri700.excb" role="manual">Express in Base Currency</GUIRef> check box must be selected.</ListItem>
      </List>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Conversion rules</SectionTitle>
      <List>
         <ListIntro>During external conversion, these conversion rules are
		  available to convert tables:</ListIntro>
         <ListItem>Transaction currency</ListItem>
         <ListItem>Transaction-currency amount</ListItem>
         <ListItem>Rate/rate factor (external)</ListItem>
         <ListItem>DLL</ListItem>
      </List>
      <Paragraph>For more information, refer to "Conversion Rules."</Paragraph>
   </GeneralSection>
</ManualTopic>