In G/l account if we select local currency what will happen?
Answers were Sorted based on User's Feedback
Answer / ramesh mehla
In which country u r working that is called local currency
and when you select local currency of the country then all
transaction will be made into such currency
Is This Answer Correct ? | 17 Yes | 4 No |
Answer / suvankar pal
In G/L account if we select local currency then we can post
any documents in any currency but if we choose foreign
currency then we can only post the document of the same
foreign currency.
Is This Answer Correct ? | 8 Yes | 2 No |
Local currency in G/L is taken for balancing point.Setting
local currency indicator in GL master account affects the
way A/c Balances are stored in GL summary. If this
indicator is set, the GL balances are updated only in local
currency.
Foreign Currency valuation of GL accounts where the
indicator "only balance in local crcy" is set is affected
in the following manner depending upon the type of account
* If the account for which only balance in local currency
is set, is an open item managed account, i.e: the
indicator "Open Item Management" is also set in the GL
account master.
* If the account for which only balance in local currency
is set, is a non-open item managed account, i.e: the
indicator "Open Item Management" is also not set in the GL
account master.
Is This Answer Correct ? | 5 Yes | 1 No |
Answer / satish.r
when u check amounts in local currency in the GL, you can
post a transaction in any other currency, even u can post a
foreign currency in to your company code, provided u have
to set the exchange rate difference in IMG for the foreing
currency rate of that country
When u set only foreign currency, you can post only in that
specific foreing currency.
Is This Answer Correct ? | 4 Yes | 0 No |
if we select local currency in G/L account all the balances
of that particular account will disply in that country
curren
cy. for example company is in india then currency will
display in rupees. if company is in us then currency then
it will display in dollars
Is This Answer Correct ? | 4 Yes | 2 No |
Answer / prabha
When this option is selected, the balance of that particular account will display the balances only and only in local currency even though it has transactions dealing with foreign currency.
Simply speaking, that account balance does not display total of the foreign currency.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shashi ranjan pandey
Hi
I am SAP functional consultant.
Is This Answer Correct ? | 1 Yes | 22 No |
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