We live in a global digital economy, where everything is connected and nothing is too far or out of reach. As time goes by, more companies expand their business activity to additional countries by opening new branches, subsidiaries, etc that conduct their business activity in the local currency. However, when handling financial reporting everything should be reported in the same currency, usually the currency used by the headquarters.
If the system currency defined in your company’s database is different than the local currency, the Conversion Differences functionality is for you:
Based on the selection criteria you define, SAP Business One recommends which journal entries to post for adjusting the differences between the account/business partner balance in the system currency and the balance in the local currency.
After generating the report, you can review the recommended transactions and choose which ones to post. In addition, you can review the transactions you didn’t choose to post by choosing the “Previous Report” button. You can accelerate the Conversion Differences report generation by deselecting the option “Enable Opening Row Details”.
Available in SAP Business One 9.3, version for SAP HANA and SAP Business One 9.3.
Source: Ari Schapira | SAP Business One – The Tip of the Week