VAT FX and local currency for UK

Sales invoices that are not in the local currency still need to record the VAT amount in local currency, and this amount needs to appear in the VAT report. This is currently an issue with the UK VAT authorities.Can some one give me lead about this FX issue of Europe VAT please ?
Thanks in advance
Satya

What is the group currency and company code currency.
If the Company Code currency is GBP - all Finance documents will show the GBP amount, based on the values in the currency tables.

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How to show both SC and Local Currency in PLD at Amount place?

Hi sir,
I want to show both System Currency and Local Currency in PLD at the Amount Place.
And amount in Words also.
When i preview my PLD Report than it show the both SC and LC in Words.
So,plz help me sir.!

Hello jyotasna ,
Docuement total always in one currency depend on selected Customer or Vendor and if you want to in two currency then you should make UDF(User Define Field) for other currency.
also make FMS for calculation in this UDF .
If you want to amount in word in PLD then you should use ,select option Amount in words
for this configuration you should need workaroud.
Thanks
Manvendra Singh Niranjan

SEM -BCS Trasaction currency and Local Currency

SAPGURUS
I have one issue , When the users are doing Half yearly BCS they see that for one company code for one item period values Local currency is diifeernt from
Transaction currency .
My question is why this Transaction currency is different from local currecny.
How to rectify this .
Are they missing any exchnage rate conversion .
Thanks in Advance .
are they missing any exchnage rate conversion .

Hi Dan Sullivan
Thanks for the quick reply .
One more question .
I see in the BCS T Curency as Euro and Local currency as Euro .
but the period values localy currency is different from Transaction currency .
I think the values should be the same if both T Currecny and Local Currency is same .
I also observed that this particular difference is happening only for 2 particular set of accounts . Those accounts are related to Intercompany related G L Accounts values .
I also observed that in the Break down category for these G L Accounts The break down structure category has defined as defaulted .
I would like to know what would be the cause for the above .
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Ravindrareddy.P.

Foreign and Local currency balance difference in GL

Dear All,
I have a GL for Bank in which entries are posted manually through F-02. GL is maintained on company code currency (Say INR). The transactions posted are in foreign currency (ex USD).
when we check the balance of the account in FBL3N it is showing FC balance as zero and Local currency balance as 100 INR.
The above situation is due to the following
Received Amount 100 USD @ 40 = 4000 INR (manually posted JV)
Credited amount 100 USD @ 39 = 3900 INR (Manually posted through JV).
As both the activity is done through JV the system dint prompt for exchange rate difference account. So no my question is:
1. In this scenario, is there any why the system can automatically post entry to exchange rate difference Or posting Manual JV is the only way out.
2. What is the use of Tcode F.05. What it actually does.
Thanks for your valuable time.
Please let me know if you need any additional details
Regards
Naveen

Hi
Since you do not have any parallel currency, The balance of 100 INR in Local Currency is correct. There is no need to write it off.
My understanding is that the transactions are as below.
Transaction    Doc Curr   Doc Curr Amt      Loc Curr     Loc Curr Amt
1                     USD            100.00                 INR                4000.00
2                     USD           -100.00                 INR              -3900.00
Balance                                0.00                                          100.00
You have a Bank Account which is maintained in INR.
In first transaction, you have a receipt of 100$ and bank has applied a rate of 1USD = 40 INR. So the balance is 4000 INR.
Then you have made a payment of 100$ and bank has applied a rate of 1USD = 39 INR. So you still have 100 INR.
That is not a gain or loos. It is valid balance.
Thanks
Prasad
Edited by: Prasad Neelisetty on Dec 23, 2009 8:35 PM
Edited by: Prasad Neelisetty on Dec 23, 2009 8:36 PM

In Journal can i specify the Foreign currency and local currency amount?

In Journal Entry can i specify the Foreign currency amount and local currency amount?
I tried the following code it is working fine using DIAPI.
Here the Local currency and the System currency is SGD. And the Journal is for USD.
oJnl.Lines.FCDebit = 120.10
oJnl.Lines.FCCredit = 0
oJnl.Lines.FCCurrency = "USD"
oJnl.Lines.Debit = 120.10
oJnl.Lines.Credit = 0
oJnl.Lines.Add()
oJnl.Lines.FCDebit = 0
oJnl.Lines.FCCredit = 120.10
oJnl.Lines.FCCurrency = "USD"
oJnl.Lines.Debit = 0
oJnl.Lines.Credit = 120.10
oJnl.Add()
But, the above way of doing is not working if i pass this Journal through B1.
B1 is not allowing to change the local currency amount, Local currency amount is automatically calculated based on the FC amount and the Exchange rate.
So Can i use the DIAPI to do this? is this right to do?

Solved.
In Journal Entry window, please kindly go to Form Settings/Document/
Table tab page/ Convert Amounts According to Rate upon Exit:
Clear the checkboxes 'From LC Field' & 'From FC Field', then the Local
currency amount will not be automatically calculated based on the FC
amount and the Exchange rate.

Diplay Functional,Reporting and Local currency

Hi,
I've a requirement to display Transactions in functional,Reporting as well as in Local currency.Do I need to setup Oracle 11i Env in MRC for that?If so how to get the transactions displayed in Local cuirrency ?Do I need to Covert them or I've to create new set of books for the same like we create one for reporting currency?
This requirement is for 11.5.10.2 as well as R12
Thanks,
Mahender
Edited by: user518071 on Jul 30, 2010 6:20 AM

Hi
You need to do the following
In 11i
1. You need to set up Reporting Set of Books to get the transactions and reports in Reporting currency for Local Currency, Functional Currency.
2. If your Functional Currency is USD, Reporting Currency is EUR and Local Currency is AED, then you need to set Main SOB in USD and Reporting SOB in EUR and AED.
In R12
1. You can set Reporting currency if you need the transactions and reports in Reporting currency provided Chart of Accounts, Calendar and Convention is same.
If your Functional Currency is USD, Reporting Currency is EUR and Local Currency is AED, then you need to set Main SOB in USD and Reporting SOB in EUR and AED.
2. If the requirement is not only currency but you need for a different Calendar or COA or Accounting convention, then you need to set a Secondary Ledger
Hope this helps
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Material Ledger Additional local currencies for company code

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...
Thanks and regards

Hello,
I also recommend:
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532932    FAQ: Valuation logic with active material ledger
1253944   Activating actual average moving price posting logic w/ ML
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Additional local currencies for company code

We are using company code currency INR -The clients wants additional currency USD as 2nd local currency--In OB22 the
2nd local currency -we want to give it to USD
2nd local currency is also by default system is showing INR-
and it is in grey field-how to enter USD for 2nd local currency-
for 2nd local currency we have given the following data:
currency type: 30 group currency
valuation 1 group valuation
exchange rate type: m
CO is active for this company code-
how to enter USD as 2nd local currency
regards
joseph

Hello Joseph,
Currency & valuation are considered as life blood of ERP systems as such those should be managed intelligently right from the day 1.
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.
However due to hugh impact of such changes, it would be better to take the help of SAP SLO services.
Ambadas

Source currency in OB22 (Additional Local Currencies for Company Code)

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?
Thanks!
Laura

Laura,
I don't think there is way to specify second local currency as a basis for translation. Only options 1 and 2 are available in OB22.

Help Needed: Enable local currency for Customer Invoicing

We are needing to enable local currency for customer invoicing on a project coming very soon. Does anyone have any information on the best way to get this done and/or documentation to look over? Any help would be greatly appreciated!!
Thank You in Advance!
Jay Esparza
SAP Functional Consultant

Hi
Local currency automatically gets activated as you set your company code currency.
No need to enable separately for customer invoicing
Plz assign points if it is helpful.
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Actual Costing - CKME update in group and local currency - split

Hi Experts,
We are using Actual Costing and running CKMLCP and CKME to update our standard price, in local currency and in group currency.
The result it is one PR accounting document, with group currency and local currency booked in it.
Now, we have this requeriment where they want to have 1 PR document with local currency booked and $0 group currency and another PR document with local currency as $0 and Group Currency booked.
It is like doing MR21 and not doing automatic translation into foreign currency, that is what we want.
So, the question is, Is there a way of archiving this in a simple way?
Thanks for your comments!
Enrique

Hi Enrique,
The final step in CKMLCP enters future prices for all materials based on the actual prices of the period.
You could Use CKMPRPN the 'maintenance of future prices' with it's rule based approach to change the data before activating with CKME.
You could
1. delete the group currency future prices (CKMPRPN)
2. release the new standard prices in company code currency (CKME)
3. create future prices in group currency by adopting the (previous month's) V-price as future price (CKMPRPN)
4. release the new standard prices in group code currency (CKME)
I am not sure if you could also distinguish the validity dates between both currencies with CKMPRPN. If yes, that might be better than deleting and rebuilding the price.You could change the date for one currency into the future, use CKME, change the date back and use CKME again.
A disadvantage of the procedure would be that you will not release the cost component split from CKMLCP. In step 4 only the new price will be released and the split will be created from the former split. In step 2 the original split from CKMLCP will be activated.
best regards,
Udo

Change Local Currency For Company

Dear Expert
I Want to change local currency for company that already have a data.
So From 1996 - 2010 that company used local currency SGD. Now 2011 will be change to USD.
all previous data no need to change.
Can I just change local currency in T-code UCWB?
Thanks

Yes all previous data will remain the same and only the opening balances and onward have the new local currency.
Make the master data change as well as including the translation method in the balance carry forward task in the configuration (UCWB) before it is executed. This will cause the balance carry forward to translate the old LC to the new LC for the opening balances.

Update the Payment Currency and Invoice Currency for all suppliers

Dears;
I have a requirement to update the Invoice Currency and Payment Currency for the all defined suppliers in Oracle Apps R12.
Any help regards this?
Regards;

Dear Mohammad;
Thanks for reply; I checked the suggested document. But nothing mentioned about suppliers setup or modifications.
I'm looking for something like Oracle Interface to do this requirement.
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Local currencies for company code RCPL cannot be completely determined

Dear all
how rectified below error
Local currencies for company code RCPL cannot be completely determined

HI,
You can Refer this Post
error message when i use f-02 transaction
Check the necessary setting with the help of FI consultant ( do not make any changes on your own)

Amount in local currency for GRs

Hello gurus,
can anyone please explain to me this phenomenon:
We have got a PO for 10 pieces of a material. The price is $7,40 per 10 pieces, so $7,40 total.
Someone posted a goods receipt for 7 pieces. For whatever reason the amount in local currency (Amount in LC) for that GR is $6,17.
Later, this GR was reversed using movement type 122 and a new GR for 10 pieces was posted. This time, the Amount in LC is $15,66.
Can someone please explain to me where those values come from? I cannot change the price in MIGO, can I? And if I cannot, how does the system calculate those values?
The problem is that now there is a difference between GR and invoice (correct price = $ 7,73)...
Thanks
Alicia

Hi
The problem is due to non sequential operation.
Generally,
Step 1: When GR is done after P.O , system will pick the price of P.O and Post.
Inventory (Dr) and GR/IR ( Cr.)
Step 2 : If the IR is done after P.O and latter GR, then IR price take precedence over the P.O price.
Step 3 : If there is no stock and Partial IR is done after P.O , tehn while GR system will take partial value from P.O and Partial from P.O
In this case.
PO: 10 pcs., $7,40 : Unit Price is .74$
GR (101): 7 pcs., $6,17 (incl. VAT) : Base Price 5.18 + 0.99 = 6.17$
GR (122): -7 pcs., $6,17 (goods return)
Till now it is o.k
Now : IR: 1 pc., $ 7,73 (wrong IR, 1 pc instead of 10) : Unit price is 7.73$.
GR (101): 10 pcs., = 1 pc. price from IR ( 7.73) + 9*(.86) = 15.47$
*0.86 : refers to the P.O value inclusive of Tax ( assuming the Tax as 16.04)
The problem in such cases is due to in appropriate GR/IR entry .
Solution : Always Can cell all the documents last come first basis then post the document one by one.
Solution 2 : Do clear the GR/IR account through Manual JV from FI module and Change the price by MR21 entry.

VAT FX and local currency for UK

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