## Getting Started with JD Edwards EnterpriseOne Multicurrency Processing

This chapter discusses:

- JD Edwards EnterpriseOne Multicurrency processing overview

- JD Edwards EnterpriseOne Multicurrency processing integrations

- JD Edwards EnterpriseOne Multicurrency processing implementation

### JD Edwards EnterpriseOne Multicurrency Processing Overview

If the company does business internationally, you work with different currencies. As part of working with different currencies, the accounting system has additional setup requirements and added complexity. You must be able to process transactions in different currencies and follow the reporting and accounting requirements of the countries in which you do business.

Some of the fundamental requirements of an international company include the ability to:

- Convert foreign currency amounts to domestic currency amounts.

- Receive or make payments in a domestic or foreign currency, as well as in an alternate currency (a currency other than the foreign or domestic currency).

- Revalue currencies as exchange rates fluctuate.

- Restate amounts using one common currency for consolidated reporting.

Some of the programs in the JD Edwards EnterpriseOne Multicurrency Processing system from Oracle are used only by multicurrency clients, while others are standard JD Edwards EnterpriseOne programs with multicurrency functionality. For example, the program that you use to enter an invoice in a foreign currency is the same program that you use to enter an invoice in a domestic currency.

JD Edwards EnterpriseOne Multicurrency Processing enables you to work with an unlimited number of currencies that can be consolidated, restated, compared, and processed in many ways. You can use any currency in the world. With JD Edwards EnterpriseOne Multicurrency Processing, you can create transactions in a foreign currency and the system will automatically convert the transaction to the domestic currency. You can also enter receipts and create payments in an alternate currency. You designate a currency preference for each of the companies, suppliers, customers, accounts, and employees.

### JD Edwards EnterpriseOne Multicurrency Processing Integrations

The JD Edwards EnterpriseOne Multicurrency Processing system integrates with every JD Edwards EnterpriseOne system that produces, tracks, and stores monetary amounts to ensure that all information is fully integrated.

Integration considerations are discussed in the implementation chapters in this implementation guide.

### JD Edwards EnterpriseOne Multicurrency Processing Implementation

This section provides an overview of the steps that are required to implement the JD Edwards EnterpriseOne Multicurrency Processing system.

In the planning phase of the implementation, take advantage of all JD Edwards EnterpriseOne sources of information, including the installation guides and troubleshooting information. A complete list of these resources appears in the preface in About This Documentation with information about where to find the most current version of each.

When determining which electronic software updates (ESUs) to install for JD Edwards EnterpriseOne Multicurrency Processing, use the EnterpriseOne and World Change Assistant. EnterpriseOne and World Change Assistant, a Java-based tool, reduces the time required to search and download ESUs by 75 percent or more and enables you to install multiple ESUs at one time.

See JD Edwards EnterpriseOne Tools 8.98 Software Update Guide

For information about the Oracle Business Accelerator for implementation of JD Edwards EnterpriseOne systems, review the documentation available.

See http://www.peoplesoft.com/corp/en/iou/implement/rapid_start/rapid_start_prtr_notes.jsp

#### JD Edwards EnterpriseOne Multicurrency Processing Implementation Steps

This table lists the suggested implementation steps for JD Edwards EnterpriseOne Multicurrency Processing:

Step | Reference
1. Set up constants, currency codes, companies, automatic accounting instructions (AAIs), monetary accounts, and ledger types for multicurrency processing. | See Setting Up General Accounting for Multicurrency Processing.
2. Set up exchange rates for the inverse or no inverse method and, if applicable, the triangulation method as well as exchange rates for currency cross rate relationships and detail currency restatement. | See Setting Up Exchange Rates.
3. (optional) Set up detailed currency restatement, including ledger types and rules. | See Setting Up Detailed Currency Restatement.
4. (optional) Set up balance restatement and as if restatement, including ledger types and rules. | See Setting Up Balance Restatement and As If Restatement.
5. Set up AAIs and credit and collections for multicurrency processing. Assign currency codes to customer records. | See Setting Up Accounts Receivable for Multicurrency Processing.
6. Set up AAIs and payment translations codes for multicurrency processing. Assign currency codes to supplier records. | See Setting Up Accounts Payable for Multicurrency Processing.