WBS Settlement Currency

[Former Member]

Dear all,

Can i know what is the defaulted currency for project settlement?

Is it would be the controlling area currency??

Is there any way we can change the settlement currecny to object currency instead of co area currency?

Please advise.

Thank you.

Kind regards,

Eila

[srinivasan_desingh · Accepted solution]

Hi,

The default currency in Project settlement is Controlling area currency and you cannot change it. If required, you can change in the project reports.

Regards

Srinivasan Desingh

[Former Member · Accepted solution]

Hi Yuzila

yes it is Controlling Area currency,

Muzamil

[Former Member]

Thanks all..

[stheurkar]

Dear Eila,

You can not change Controlling Area Currency to Object Currency in Project Settlement.

All the currency-dependent data in the Project System is managed in three different currencies in parallel

1) Controlling area currency

2) Object currency

3) Transaction currency

Use of Currencies in the Project System:

All the currency-dependent data in the Project System is managed in three different currencies in parallel:

Controlling area currency:

The whole project (work breakdown structure, along with the networks, activities, and orders assigned to it) must be in one controlling area. For this reason, the controlling area currency within a project is always uniform.

Object currency:

You can assign any object currency you wish to the following objects in the Project System:

- Project definition (default value for matching WBS elements)

- WBS element

- Network header

- Network activity

If you have assigned a number of company codes to a controlling area and the company codes have different currencies, you cannot allocate the object currency. The system automatically uses the local currency of the respective company code.

Transaction currency:

Costs and revenues arising from different business transactions in the project are recorded in the currency of the appropriate business transaction - for example, the currency in which the purchase order was entered.

Planning also takes account of the business transaction currencies. For example, for an externally-processed activity, the system takes the currency from the purchasing info record. If no currency has been maintained in the purchasing info record, you can maintain it manually in the business transaction. The planning finance flow is always displayed in the project by currency.

Every amount in the project is translated as appropriate when you enter it and recorded in the database in all three currencies. You stipulate the currency translation rates in the Project System implementation guide.

Reporting:

The commercial information system offers reports in any currency you want, in addition to those described above. The system translates the data using the latest rates.

Prerequisites:

Currency amounts are only updated in parallel if you activate the All currencies indicator for the relevant controlling area.

Hope it's clear.

Regards,

Sandeep

Edited by: Sandeep Theurkar on Apr 18, 2009 12:45 PM