Need information regarding local , foreign and document currency

Hi All,
  I need to know the difference between local, foreign and document currencies.
Thanks in advance,
vinay

Hi,
Document currency:
This is the currency set at the POS for the sales documents. If the POS system is not able to send this currency to head office, the POS currency is used as the document currency.
Local Currency :
Local Currency - This is, in most cases, the formal currency of the country. In SAP Business One, all the reports displayed in the local currency, and all the foreign currency transactions are translated automatically to local currency. This way, the local currency is the common denominator for all currencies, which enables balance calculation of multi-currency accounts/business partners.
Foreign Currency: This currency we will talk mostly in the Financial areas
http://help.sap.com/saphelp_erp2004/helpdata/EN/a6/004940f0030272e10000000a155106/content.htm
For More detailss:
http://www50.sap.com/businessmaps/5CE8CE5FA6854AC984502823ACC3AA62.htm
Difference In Currency :
http://www.sap-img.com/financial/explain-the-difference-in-currency.htm
Regards
Ram.
Edited by: Ramakanth Deepak Gandepalli on Dec 9, 2009 11:52 AM

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