<?xml version="1.0" encoding="utf-8"?>
<ManualTopic ID="/baanerp/tf/onlinemanual/cri000300" xml:lang="en">
   <Header>
      <Title>Currency types</Title>
      <Keyword type="header" order="d1e1811885">
         <Level1>Currency types</Level1>
      </Keyword>
   </Header>
   <GeneralSection>
      <List>
         <ListIntro>An LN company uses these types of currencies:</ListIntro>
         <ListItem>Home currencies The base currencies used by a company, in which
		  all amounts are expressed.</ListItem>
         <ListItem> 
            <List>
               <ListIntro>Reference currency, sometimes called the logistic currency
				In any currency system other than the standard currency system, the reference
				currency is the home currency that is used for the company’s accounting.</ListIntro>
               <ListItem>In the single as well as the independent currency system,
				the reference currency equals the local (that is, functional) currency of all
				financial companies.</ListItem>
               <ListItem>In a dependent currency system, the reference currency is
				the base for all calculations with currencies.</ListItem>
               <ListItem>In the standard currency system, the reference currency is
				just a non-home, common currency between companies, in which currency shared
				amounts can be expressed: it is not used as currency base for
				calculations.</ListItem>
            </List>
         </ListItem>
         <ListItem>
            <Paragraph>In a multicurrency system you can define up to three home
			 currencies for each financial company. Except in a standard currency system,
			 one of these must equal the reference currency. In a single and independent
			 system, the reference currency by definition equals the local, functional
			 currency. If you use more than one home currency, amounts are calculated and
			 stored in all three home currencies. In sessions that display home currency
			 amounts, you can use the <GUIRef href="" role="manual">Rotate Currency</GUIRef> command to display
			 the amount in the home currency that you want. In the standard currency system,
			 currency rotation is only enabled in display sessions and reports of both G/L,
			 and A/P - A/R subadministrations. In addition to this, as of Infor LN FP5, the Financial Statements (FST) module offers extended
			 possibilities for multicurrency reporting.</Paragraph>
            <List>
               <ListIntro>The three home currencies that you can define for a
				company are:</ListIntro>
               <ListItem>The local or functional home currency. The home currency
				that is the legal currency of the country in which the company is established.
				Tax reporting must usually be done in the local home currency.</ListItem>
               <ListItem>Reporting currency 1 and reporting currency 2. Alternative
				reporting currencies.</ListItem>
            </List>
         </ListItem>
         <ListItem>Transaction currencies The currencies used for transactions
		  with your business partners. <List>
               <ListIntro>For example, these amounts are expressed in transaction
				currencies:</ListIntro>
               <ListItem>Contract amounts</ListItem>
               <ListItem>Invoice amounts</ListItem>
               <ListItem>Price lists</ListItem>
            </List>
         </ListItem>
      </List>
   </GeneralSection>
</ManualTopic>