After completing this lesson, you will be able to:
Companies that use multiple currencies can track up-to-date exchange values using Currency Conversions.
Conversion factors are used to convert currency amounts to their equivalent values in the other currencies. The conversion factors can be established manually using this admin object, with a currency conversion connector, or automatically using an integration with OANDA, a foreign exchange service.
Select the Currency Conversion admin object from the Financial Data section of the admin menu to view a list of currencies in WorkingNet’s tenant that currently have conversion values assigned.
WorkingNet needs to compare worker procurement costs between its US offices and its UK offices. To do so, it needs a means of determining the exchange rates between the two currencies.
As the SAP Fieldglass administrator for WorkingNet, you will need to create a currency conversion to determine the value of the British Pound against the US dollar.
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