Saturday, December 5, 2009

EMU and NCU Currencies

EMU Currencies: The euro and the national currency of each state in the EMU.
NCU: National Currency Unit. Any EMU currency other than the euro.

In the Invoice Workbench, when an invoice requires an exchange rate between an NCU currency and a non-EMU currency, you enter only the exchange rate between the non-EMU currency and the euro. Since the rate between the euro and each NCU is fixed, the system then calculates and displays the complete exchange rate between the NCU and the non-EMU currency. This functionality is enabled when the following profile option is set to no: Currency: Allow Direct EMU/Non-EMU User Rates.