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Adding a Currency

Objective

After completing this lesson, you will be able to add a Currency to an SAP Fieldglass tenant.

Currency

A Currency is, of course, the accepted form of payment in a country or region.

Currencies are associated to sites and cost centers so that job postings will automatically reflect the currency of the location where the worker is to be placed.

screenshot of the Time Sheet & Expense Sheet Setting section of a Job Posting, emphasizing the Billing Currency listing as USD

Navigating the Currency Admin Object

screenshot of the Financial Data section of the Admin Menu, the Currency link is highlighted

1	To view a list of currencies enabled within the tenant, select the Currency link from the Financial Data section of the admin menu.

Currency List page

The Currency list page displays the currencies available to the buyer for invoicing. Most of the world’s currencies are available for use by the buyer, but this list reflects only the currencies that have been activated and are commonly used transactions. A default currency is usually set to the country where the organization is headquartered.

2	Currencies are added to the list through the Add button but can be deleted from the list by deselecting the checkbox next to the currency and selecting the Update button.
3	To view the details of a currency, select an appropriate link in the Code column.

Currency Details page

A currency record requires few characteristics. The name and code are auto populated by the SAP Fieldglass application, however, there are optional configurations that companies may find beneficial:

The Precision for Amount fields and Precisions for Rates fields indicate the number of decimal spaces the currency will be rounded to in transactions. These can be set to round at 0, 1, 2, or 3 decimal places. The default is 2 decimal places, which does not appear in the table unless a specific Rounding Method is chosen.

Rounding Methods determine the manner in which the currency will be rounded when/if a certain condition is met. The conditions that can be set for rounding are:

Half round down is the number in the decimal place to the right of the precision decimal place is used to round down when it is five or less.
Half round up is the number in the decimal place to the right of the precision decimal place is used to round up when it is five or greater. This is the default method unless another is chosen.
The Ceiling indicates that the decimal place will be rounded up if there is any number in the decimal places to the right of the precision decimal.
The Floor indicates that the decimal place number is rounded down if there is any number to the right of the precision place number.

If a rounding method is chosen, the Precision fields above will display the number of decimal places that the currency will be rounded to.

Add a Currency

To accommodate a new WorkingNet office in Brazil, the Real needs to be added to the list of currencies WorkingNet uses.

As the SAP Fieldglass administrator for WorkingNet, you will need to add the Brazilian Real to the list.

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