| Independent multicurrency system |  |
| You use an independent multicurrency system in countries with an unstable local currency. For example, you can then report to the tax authorities in the local currency and use a more stable currency for the company's financial management. You can use an independent multicurrency system in both a single-company environment and in a multicompany (multiple countries) ERP LN environment. Defining the currencies Each logistic and financial company in an independent multicurrency environment must have the same: Reference currency Local currency Reporting 1 currency Reporting 2 currency Independent calculation You must define the exchange rate of each external currency to each home currency. ERP LN converts all the external currency amounts to all the home currencies and calculates and registers the amounts in each home currency independently. Related topics Other currency systems Standard currency system |