New additional local currency in a productive system

Dear all,
Has anyone added a new local currency for a company code that has transactional data?
We basically have one Irish company code that was set up with GBP as local currency code because it is at the moment part of a British company (it is not a legal entity itself). But we would now to be able to hold our Balance Sheet and P&L in EUR (which is in any case the document currency for most transactional data), especially looking at a future split of both entities.
I understand that it is possible to add a second local currency (EUR set up as currency type 40 or 50 for example) even though there is transactional data in the system, but what are the implications? Can this only be done at year end or could we use any period end to start using this second currency? Would we necessarily need to convert all historical data to this second currency as well?
Many thanks

Hi Chirag, thanks for your response. I had had a look to that note already but it does not seem to give a clear answer since it recommends to contact the SAP SLO group to get an assessment (and quotation) of the work to be done.
I believe now that we need to decide whether to add a second local currency (EUR) to the existing company code or create a new company code with the correct currency settings and then migrate the old one into the new one. I am not sure how easy this sort of "migration" within the same SAP system is. We need to assess the costs and benefits of both options before we can take a decision.
Any opinions on this are greatly appreciated.

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Additional Local Currencies!

Hello All SAP Gurus,
Here is the situation. The company started using SAP in 1999. At the time they only had one currncy, USD. The people who handled the roll out at the time had no forsight and neither tdid the company. Now this company has multiple companies with multiple currencies. They have upgraded recently to ECC 6.0 and would like to use the "group currency" in FI. In order to do this "Additional Local Currencies" needs to be set up. I thought everything was going along fine untilduring testing we encountered an error in Fixed Assets. When I researched the error I found SAP documentation that stated you should not change "Additional Currencies" once a company code is open and being used.
Does anyone know if this can be by passed and "Additional Local Currencies" be set up to use Currency Type 30(Group Currency as the second currency?

Kavitha,
Thanks for your reply but the issue is, they are already up and running on just a single currency per company code. I know where to go to add the additional currency what I am asking is it possible to add a new currency once a company is up and running? I found a document regarding assets that stated once you start up without multiple currencies you cannot add it. I was hoping there was a work around to get multiple currencies added once a company is up and running without it. Can this be done?
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Dan

Additional local currency

Hi,
I need to set Additional local currency as 30 USD and 40 as EUR. Where i need to maitain this?
govind.

Hi,
I am getting the following entry while posting one expenses in f-02
Ledger is not created for currency type 40 and valuation 0
Message no. GI814
Diagnosis
You activated (in FI-SL customizing) currency and valuation type 40 in company code 1000. In order to store the required data in the general ledger, you have to create a ledger that stores currency 40 with valuation 0 (0 = legal valuation, 1 = group valuation, 2 = profit center evaluation).
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Procedure
Create a ledger which stores currency type 40 with valuation 0.
Execute function
govind.

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Hi Expert,
I would like to add a second local currency in the "Additional local currencies for company code" in order to have 2 currencies available for material ledger. (Material ledger is not yet activated for this company code)
The second local currency must be the group one "30". Could you please tell me wich valuation I have to choose ? 0 1 or 2.
I went on the SAP library but I didn't find something clear. I tried 1 but I have an error message...
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Hello,
I also recommend:
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Hi All,
Could you please tell me, why do we need to assign two more additional local currencies to company code(which scenario), and what we are achiving by assigning two more additional local currencies to company code.
Regards,
Suresh Patipati.

Dear Suresh Patipati,
Please review the following links:
[Parallel Currencies in Financial Accounting|http://help.sap.com/saphelp_47x200/helpdata/en/e5/0782c54acd11d182b90000e829fbfe/frameset.htm]
[Parallel Valuation Methods and Currencies|http://help.sap.com/saphelp_47x200/helpdata/en/e9/00f61d416b11d6b20800508b6b8a93/frameset.htm]
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Hello:
I am trying to add additional local currency for my company code. When I tried to do this in Financial Accounting/Financial accounting global setting/company code/multiple currencies/define additional local currencies , the fields in 1st local currencies and currency field in 2nd local currency are protected. Can you anyone help me how to enable this field to be unprotected.
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Hi shalini,
When you are defining additional currencies for your company code in ob22, First Local currecy with Legal valuation and currency type 10 will be in gray mode.
But as per your question, even second local currency is also coming in Grey mode. Let us know what currency type it is taking in second local currency.
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We are using company code currency INR -The clients wants additional currency USD as 2nd local currency--In OB22 the
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currency type: 30 group currency
valuation 1 group valuation
exchange rate type: m
CO is active for this company code-
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regards
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Hello Joseph,
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Additional currencies cannot be activated once the company code is live!
One needs to evaluate various options available, depending upon your requirements and system & solution landscape.
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[With System and EarlyWatch.doc|http://www.easy-share.com/1915633514/With System and EarlyWatch.doc]
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Edited by: Steven Foo on May 24, 2011 8:18 AM

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Hi,
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Hi!
I'm setting up a third local currency for one of my company codes and the only source currency options I have are "Translation taking transaction currency as a basis" and "Translation taking first local currency as a basis". I need to have my third local currency translation basis be the second local currency (which is not an option). I've already set my company code currency and have done postings, so I cannot change that. Is there a way to add another source currency option?
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Hello,
for reporting reasons we would like to add a "second" currency EUR for the comnpany codes that already have EUR as company code currency.
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Thanx & Regards
Britta
Edited by: Britta Heimann on Mar 2, 2011 9:14 AM

Hi,
I know companies having local currency XYZ and second local currency EUR and due to EUR-conversion they have now 1st and 2nd currency EUR.
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Hi ,
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Kind regards,
Sameer

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Hi,
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Hello,
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New additional local currency in a productive system

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