Currencies

Oracle Applications Fusion Cloud - Manufacturing

Oracle Cloud/Fusion Manufacturing Cloud training will help you develop the fundamental skills required to set up and use the Manufacturing module. This training covers all the tasks, setups, forms and reports used in Manufacturing and related modules

Use the Currencies window to define non-ISO (International Standards Organization) currencies, and to enable/disable currencies. Oracle Applications has predefined all currencies specified in ISO standard #4217.
To use a currency other than U.S. Dollars (USD), you must enable the currency. U.S. Dollars (USD) is the only currency that is enabled initially.

1. Enter a unique Code to represent your currency. 
Note: You cannot change a currency code after you enable the currency, even if you later disable that currency.

2. Enter the Name and Description of the currency. 

3. (Optional) Select the name of the Issuing Territory. Oracle Applications has predefined the names of countries (per ISO
Standard #3166) that issue standard currencies.

4. Enter the Symbol for your currency.
Note: Some Oracle Applications use currency symbols when displaying amounts. Others, like General Ledger, do not.

5. Enter the Precision of the currency to designate the number of digits to the right of the decimal point used in regular currency transactions.

6. Enter the Extended Precision to designate the number of digits to the right of the decimal point used in calculations for this currency. The extended precision must be greater than or equal to the standard precision.
Note: Some Oracle Applications use the extended precision. Others, like General Ledger, do not. 

It is documented that internal calculations can be made with the extended precision, were displayed amounts are to be displayed using the currency precision.

7. Enter the Minimum Accountable Unit to designate the smallest denomination used in this currency. Note that this might not correspond to the precision.

8. (Optional) Enter Effective Dates for your currency. You can only enter transactions denominated in this currency for dates within the range. If you don’t enter a start date, the currency is valid immediately. If you don’t enter an end date, the currency is valid indefinitely.

9. Enable your currency.

Definitions
Throughout this site, we refer to currencies in one of three contexts -- primary functional currency, reporting functional currency, and transaction currency. Each is explained below:

Primary Functional Currency: the currency you use to record transactions and maintain your accounting data within Oracle Applications. The primary functional currency is generally the currency in which you transact most of your business and the one you use for legal reporting.

Reporting Functional Currency: a currency other than your primary functional currency for which you need to report accounting data. For example, as of January 1, 1999, the new pan-European currency, the Euro, will become effective. If you need to report in the Euro currency, you will need a reporting set of books with the Euro as the functional currency. Therefore, you need to enable the EUR currency.

Transaction Currency: the currency in which a transaction originates. For example, if you are a Canadian organization and you trade with organizations located in Japan, you must enable the Japanese Yen if you will be issuing purchase orders, generating invoices, paying bills, and receiving payments in Yen.
 

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