Multinational companies often have to present their results using a calendar different from that used in the country where they are located (different fiscal years among currencies).
In Management Accounting environment, different calendars can be used with different currencies. Thus, closings in dollar currency, for example, may follow a different calendar from that of real currency.
Even though the company does not use this resource of multiple calendars, in order to ensure correct use of Management Accounting environment, at least one calendar must be bound to a currency. This binding makes possible the existence of a history with all calendars and currencies used in the system.
The beginning of the operations of Management Accounting environment must include the binding of Accounting Calendars and Currencies, because no accounting operation can be carried out without this information. There can be more than one currency bound to a single calendar. However, conflicts among calendars and currencies must be avoided, i.e., not to use more than one calendar with similar fiscal year for the same currency. |
Example:
Correct:
Calendar | Fiscal Year | Currency |
001 | 2002 | 01 |
001 | 2002 | 02 |
Incorrect:
Calendar | Fiscal Year | Currency |
001 | 2002 | 01 |
002 | 2002 | 01 |
In this case, as there is a cross-reference between calendars and currencies, the system does not allow inclusion of this binding (Calendar vs. Currency).
Procedures
Adding a Currency vs. Calendar binding:
1. In the Currency vs. Calendar maintenance window, select Add.
The screen for addition is displayed.
2. Fill in data according to instructions of field help.
3. Check data and confirm it.
See Also
See topics:
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