<?xml version="1.0" encoding="utf-8"?>
<ManualTopic ID="/baanerp/tc/onlinemanual/000091" xml:lang="en">
   <Header>
      <Title>Euro compliance</Title>
      <Keyword type="header" order="d1e1459620">
         <Level1>Euro compliance</Level1>
      </Keyword>
      <Keyword type="header" order="d1e1459623">
         <Level1>Economic and Monetary Union</Level1>
      </Keyword>
      <Keyword type="header" order="d1e1459626">
         <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> ERP Enterprise is Euro-compliant, which means that you can use ERP Enterprise 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 ERP Enterprise 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, ERP Enterprise 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">Currencies - overview</Link>
      </RelTopic>
      <RelTopic>
         <Link href="/baanerp/tc/onlinemanual/000136" role="manual">Currency Initialization</Link>
      </RelTopic>
   </RelatedTopics>
</ManualTopic>