Euro conversion approach in Slovakia
I have just joined BEX community. I have a questions on approaches/solutions available for our SAP platform in Slovakia. Of course, we have an local auditor + consultant but anyhow I would like to know your opinion:
Slovakia (and other countries in our system) are customized were SKK is defined as local + controlling area currency. All corporate reporting is afterwards converted to EURO in a legacy tool using mothly exchange rate. Our business is done in EUR or USD, SKK is used rarely (only locally, local books).
Prefered solution from our partner is usage of transaction currency from beginning of 2009 in a first step, after audit technical conversion to EURO by changing local/CoAr currency. Here I have an issue with other currencies than EURO or SKK were we are not able to track all EURO correctly as only EURO/SKK rate is fixed. In my understanding, SAP system is not able to bear / track more than 3 currencies as mentioned above accross different modules (FI-CO-PCA..). On top of this, several issues with legacy applications were EURO is expected as output/input from our system starting from 2009 (banking,..).
Second solution - copy of a client for SKK and conversion of current client to EURO at the beginning of 2009 - is my prefered solution but is considered as costly from licenses/HW perspective.
Could you please indicate any other pros/cons in case of this country set up and let me know your comments? Is SAP transaction currency solution in line with law in case of usage of several currencies in our daily business? What would be your recomendation?
Thanks a lot for your comments