Multiple Group Currencies Concept
With group reporting, it’s possible to create consolidated statements in multiple group currencies in parallel with no need to copy data across versions.
The goal is to generate multiple group currencies in a single closing process:
- Configure multiple extension versions to the main standard version which can each carry an additional group currency or additional translation.
- Produce these multiple group currencies or different translations on the same group currency in a single closing process while processing the standard version in data and consolidation monitor, with no need to copy reported data across versions.
- Allow posting of manual journals in several group currencies at the same time, keeping the multiple group currency values in columns of the same bundled journal entry.
This way you increase the automation and efficiency when working with multiple group currencies, or multiple currency translations, such as for translation at constant currency rates for comparison reporting.
The basic idea of the multiple group currencies is to create a standard version and additional extension versions, which can either be a group currency extension version or an extension version. The group currency extension version and the extension version would both refer to the standard version as the reference version.
A scenario of this type is called version stack.
Generally speaking, a version stack comprises a group of consolidation versions that are linked together by each of their respective reference version settings.
One of the use cases of version stacks is the multiple group currencies concept.