How easily explained. I must appreciate the effort. As a FICO consultant, I know the importance of this video. Thanks for educating. More power to you.
You are a life saver, Abdullah! I was having anxiety over this assignment I have from my training at work. You answered all my questions. Thanks a lot!
Hello I didn't understand in this video, is the currency that we defined when defining the company, local currency or global currency? If the relevant currency is local currency, then in which part is Global currency defined?
Very informative and helpful. As an auditor, these were too technical for me. I had so much confusion in figuring out these and had tough times in the past. Now it's clear and can analyse all the transactions with ease 😀😀
Amazing step by step explanation. Im in PP but it is good to understand what FICO consultants do. This is because sometimes we encounter FICO related errors during a new implementation, because the config wasnt updated yet. So it helps to point out the error source for the FICO member to fix. Thank you.
Thank you so much for the valuable video. Always learn lots of tips and good information from your each videos. I am a big fan of your videos and looking forward to watching more. This is what I have understood on document currency- document currency can be company code currency or it can be vendor /supplier currency . for example if my vendor is from India and my company is in Europe then my company's document currency is in INR and company code currency is in Euro..
@@AbdullahGalal Hi Abdullah, as before - thank you very much for your presentation. I have a specific question about possibility of currency setup in material ledger. Is it possible for you to answer it? If we consider scenario where 1st local currency is EUR (CT10), 2nd local currency is USD (CT60 - Glob Comp curr) and 3rd Local currency is JPY (CT30 Group curr) in which currencies can I set up material ledger? Obviously in EUR, but will I be able to have 2nd currency in the material ledger as USD in this scenario? Thank you again in advance.
Also where can we define the whole group in SAP consisting multiple companies. I have become fan, you explain topics with so much clarity. You make things easy.
That's very good and great explanation Abdullah. I have a small doubt regarding difference between the BSEG currencies and Freely defined currency which are introduced in S/4 HANA. That would be if you had covered that point as well in this vedio. Keeping doing your great work and really appreciate your efforts for makeing such knowledgble vedios.
Hi Sir, it's really great experience with this video and I got to know many things in currency part in sap. Thanks for the video. you have explained in s4 hana point of view that is fine. And also i'm requesting you to explain in ECC 6.0 for Parallel currency where we can maintain only 3 maximum currencies. Thanks in advance.
Thanks Abdullah.. this is very much informative. Just one question.Even if we get multiple currencies in financial document but in Finance submodule like Fixed Asset,Material ledger there is limitation on usability of Currencies right?
Tnaks for your effort what is the purpose of hard currency ?? also in your implemations you find any requirements except the local , document and reporting currencies even consolidation ?
I only used hard currency once in all my projects, it was for Venzuella as they have a very bad inflation problem so they used USD as hard currency. In all my other projects I never used these currencies, the main ones are always enough (Local, document, group)
Hello Abdullah Gamal.. thank you for sharing very good document. I have some observation from my experience that, source currency type should not be document currency and it should be company code currency. For example, we have company code currency and group currency both USD. There was a forex gain/ loss from EUR (document currency). So system post zero amount in EUR and 110.50 USD as amount in company code currency. In case if you maintain above setting like source currency is document currency for currency type 30, amount in group currency is zero. If that is the case, when we check the financial statements in currency type 10 and 30 (where both are USD), you face amounts mismatch. Hence I suggest to use source currency type as company code currency for any parallel currency. please correct me if Im wrong.
Dear AG This video is very informative. But I would like to know if our system is already productive and transactions are posted in that company code and later we want to implement parallel accounting then how can we achieve it?
Hi Abdullah, thanks for this clear explanation in your video. I have a question here. What will be the impact to the standard report/s and existing documents if new or third currency will be introduced to the company code? In OB22, only 1st & 2nd currencies were originally configured.
Nice Explanation - Great work Short and sweet. Could you please create a Video for the asset as well for the Define Depreciation area in the New Asset account with respect to the Depreciation area to the Accounting Principle/Target ledger Group etc in TCode: OADB - Thanks
Very good and deep explaination.👍 Wanted some videos for USGAAP (leading Ledger) and IFRS (non leading ledger ) Accounting enteries in leading ledger , non leading , and extension ledger. Does IFRS(non leading ledger shows actual accounting enteries or just used for reporting purposes). Please make a video 👍.Thanks in advance
Hello I didn't understand in this video, is the currency that we defined when defining the company, local currency or global currency? If the relevant currency is local currency, then in which part is Global currency defined?
Hi Abdullah, may I know in controlling are, should I assign currency type to 30 or 20? what is the difference? Also If I have existing company using type 10, should I change to another currency type? or I should create a new controlling area?
Thanks a lot Abduallah. Can you pls explain the importance of various Valuation Approaches (Valuation Views) ex, Legal, Group and Profit center valuation, etc. Thank you
Thank you for sharing the very useful videos on SAP, I have been following you in TH-cam for about 2 years. I have small requirement on foreign currency. I have an Invoice in different currency but the payment should be made in different currency and the Invoice should be auto cleared after the payment from F110. is this possible is there any document i car refer for this requirement solution. Eg. Invoice is EUR 100 and I am going to pay the same in USD Equaling lets say 90USD, can I include the EUR Invoice in F110 for payment in USD currency and is it possible to clear the Invoice document automatically after the payment is released.
Thanks for such a nice explanation! I just have a doubt about companies and group as a whole. For example- There is corporate group Relyance. This has 3 business lines 1. Relyance Telecom 2. Relyance FMCG 3. Relyance Power. Relyance telecom has business in India and US. Relyance FMCG has business in China and Japan. Relyance power has business in france and UK. So In SAP Relyance Telecom will be defined as a company.( Z100) two co codes will be created one for India(1000) and one for US(2000). these co codes will be assigned to Company Z100. This company currency will be Group Currency or Global Company currency? Also we can get report at company level. How Financial report can be drawn at the whole group level that is for Relyance group.
> Company currency is Global Company Currency, Client currency is Group currency > We define a group chart of account and assign it to the different operational COA in company codes then we generate consolidated FS with the group COA
Question: Scenario: client wants to change/Add EUR currency for group reporting? Earlier group reporting was USD. What is the best way to add new currency EUR which can be used for group/management reporting
My first question wuld be: why do you want to do this? what's the business requirement? Then read this thread www.toolbox.com/tech/enterprise-software/question/exchange-rate-type-default-different-from-m-for-a-company-code-061910/
@@AbdullahGalal We have two rates at which we procure USD, one at the bank rate and one from the parallel market. Both the rates are different owing to the market dynamics. And also due to certain legal regulation some Raw Materials imported in the country are not allowed to procure forex from Bank at bank rate and hence have to procured at Parallel Market rate. So now we have procurement of RM at different rates . We need to track the CNF rate of procurement based on the exchange rate used for procurement. How do we do that?
Q1.Whether freely defined currency available in Asset and ML to map? Q2. Whether 3rd FI bseg currency should be one of the freely defined currency? Plz explain abt it more
Masha Allah I want to become like you brother please help me out to learn new things may allah bless you and me with good health ❤️ jaza-kal-allah khair
Hi. Anybody...can you tell me how the global company code currency 60 is different from... group currency 30...bcs in ecc group currency is used for reporting purposes
Please anyone can tell me i have a requirement that they want to see the document e.g vendor invoice or customer invoice in local currency e.g AED and 2nd currency USD also so i think this can fulfill their requirement anyone can please confirm this i will be very thankful to you
How easily explained. I must appreciate the effort. As a FICO consultant, I know the importance of this video. Thanks for educating. More power to you.
You are a life saver, Abdullah! I was having anxiety over this assignment I have from my training at work. You answered all my questions. Thanks a lot!
Welcome Jane! very glad to help
Hello I didn't understand in this video, is the currency that we defined when defining the company, local currency or global currency? If the relevant currency is local currency, then in which part is Global currency defined?
Very good video Abdullah, thank you for your explanations and sample, very clear to understand!!!
You are very welcome
professional consultant
keep going you help me a lot in my learning journey thank youuu for useful tutorials
It's my pleasure
Very informative and helpful. As an auditor, these were too technical for me. I had so much confusion in figuring out these and had tough times in the past. Now it's clear and can analyse all the transactions with ease 😀😀
Glad to help! Thank you for the feedback
Simply brilliant....Many Many thanks....So beautifully explained and one of the best demos
Thank you Shrikanth
Amazing chanel, It has been a great help to me. Thanks a lot
Glad to hear that!
This is clear and precise. Good job Abdul.
Thank you
Your video helped me a lot. Your way to explain is excellent and very clear. Thanks a lot!! Regards, Simone
Glad it was helpful! you're welcome Simone
Great explanation dear
💯 % Helpful.
Thank you
My pleasure
As Salam Aleykum! Jazak Allahu khayran my brother! Clearly explained.
Jazak Allahu Ali
This is very precise and clearly explained presentation. It is very helpfull. Thank you a lot for sharing your knowledge
You're welcome Ram, thank you for you comment
Hi Abdullah, Thank you so much on clear explanation on curries and Types. Excellent video. Keep doing the same, great learning from you Sir..
Thank you Chandra!
Amazing step by step explanation. Im in PP but it is good to understand what FICO consultants do. This is because sometimes we encounter FICO related errors during a new implementation, because the config wasnt updated yet. So it helps to point out the error source for the FICO member to fix. Thank you.
of course , plus it will help you in "fighting" meetings against FICO 😁, we clash a lot with PP
excellent tutorial and very prominent knowledge.
Thanks a lot Erkan
Extremely imp and unique information sir
Thanks a lot
My Pleasure!
Very clear and simple explanation.
Great explanation. Thanks a lot Abdullah...
My pleasure
Really like your SAP video Galal. Easy to understand. Keep sharing!! Thank you
My pleasure 😊
Very good training material, very good explanations!
Masha Allah. Excellent plan and demonstration. Thanks.
You are most welcome
Excellent Video!!! Very clearly articulated.Please record more videos
Thank you, I will
That was really good explanation..keep going
First comment is always special, thank you
Good One Abdullah!
simple, easy explanation as always. much appreciated.
You are welcome!
Very good document brother, thanks
My pleasure
Thanks so much
You're welcome!
Extraordinary work Abdullah, thanks for you hard work.
You're welcome!
Thank you so much Galal, very clear and usefull
Welcome
Thank you so much for the valuable video. Always learn lots of tips and good information from your each videos. I am a big fan of your videos and looking forward to watching more.
This is what I have understood on document currency- document currency can be company code currency or it can be vendor /supplier currency . for example if my vendor is from India and my company is in Europe then my company's document currency is in INR and company code currency is in Euro..
Yes but it can also be any currency we want to use even if different from vendor currency
Thanks for your efforts and for sharing
My pleasure
I am big fan of your videos. i hope to see videos on Sap VIM on your channel
Thank you Ravi, will do my best
Very helpful for new comer, thank you
Thank you, very good presentation.
My pleasure
@@AbdullahGalal Hi Abdullah, as before - thank you very much for your presentation. I have a specific question about possibility of currency setup in material ledger. Is it possible for you to answer it? If we consider scenario where 1st local currency is EUR (CT10), 2nd local currency is USD (CT60 - Glob Comp curr) and 3rd Local currency is JPY (CT30 Group curr) in which currencies can I set up material ledger? Obviously in EUR, but will I be able to have 2nd currency in the material ledger as USD in this scenario? Thank you again in advance.
excellent explanation
Thank you!
Excelente!!! Gracias por compartir... Son muy claras y precisas tus explicaciones.
El gusto es mio
Also where can we define the whole group in SAP consisting multiple companies. I have become fan, you explain topics with so much clarity. You make things easy.
Thank you!
Company is a group of company codes
Quite useful Thank you very much
Welcome!
Nicely explained brother... thank you
My pleasure
That is really wonderful.
Thanks!
thank you Abdallah. you are the best
You are the best :)
Thank you Hatem
Greater trainer
Thanks a lot Aswini
Subscribe for more 😉
I Can't Thank You Enough...Excellent!!!
You're very welcome!
That's very good and great explanation Abdullah. I have a small doubt regarding difference between the BSEG currencies and Freely defined currency which are introduced in S/4 HANA. That would be if you had covered that point as well in this vedio.
Keeping doing your great work and really appreciate your efforts for makeing such knowledgble vedios.
Hi, I always cover the basics only and leave the rest to you guys 😉
Awesome video 👍
Thank you 👍
Hi Sir, it's really great experience with this video and I got to know many things in currency part in sap. Thanks for the video. you have explained in s4 hana point of view that is fine. And also i'm requesting you to explain in ECC 6.0 for Parallel currency where we can maintain only 3 maximum currencies. Thanks in advance.
I don't create videos on ECC since it's outdated, but you can find many blogs explaining this
Excellent...
Thank you!
Amazing. Thank you
What an explanation :)
Thank you
Thanks Abdullah.. this is very much informative. Just one question.Even if we get multiple currencies in financial document but in Finance submodule like Fixed Asset,Material ledger there is limitation on usability of Currencies right?
Yeah but it improved with S4HANA, you can have parallel currencies in fixed assets and material ledger now but that's a more advanced topic
Tnaks for your effort
what is the purpose of hard currency ??
also in your implemations you find any requirements except the local , document and reporting currencies even consolidation ?
I only used hard currency once in all my projects, it was for Venzuella as they have a very bad inflation problem so they used USD as hard currency.
In all my other projects I never used these currencies, the main ones are always enough (Local, document, group)
@@AbdullahGalal Still I am having tough time to understand hard currency.
Thanks for good one
Most welcome
Hello Abdullah Gamal.. thank you for sharing very good document. I have some observation from my experience that, source currency type should not be document currency and it should be company code currency. For example, we have company code currency and group currency both USD. There was a forex gain/ loss from EUR (document currency). So system post zero amount in EUR and 110.50 USD as amount in company code currency. In case if you maintain above setting like source currency is document currency for currency type 30, amount in group currency is zero. If that is the case, when we check the financial statements in currency type 10 and 30 (where both are USD), you face amounts mismatch. Hence I suggest to use source currency type as company code currency for any parallel currency. please correct me if Im wrong.
Thank you Abdullah Galal! Super comprehensive. :) Can you make one for Document Splitting Configuration? Thank you!
Great idea, will add it to my list
Thank you very much and more power! :)
Dear AG
This video is very informative. But I would like to know if our system is already productive and transactions are posted in that company code and later we want to implement parallel accounting then how can we achieve it?
Hi Abdullah, thanks for this clear explanation in your video. I have a question here. What will be the impact to the standard report/s and existing documents if new or third currency will be introduced to the company code? In OB22, only 1st & 2nd currencies were originally configured.
Hi, read this
www.sapinsideronline.com/managing-currencies-in-a-live-sap-s-4hana-finance-1809-environment/
Nice Explanation - Great work
Short and sweet. Could you please create a Video for the asset as well for the Define Depreciation area in the New Asset account with respect to the Depreciation area to the Accounting Principle/Target ledger Group etc in TCode: OADB - Thanks
Noted, will do when I start FA
Well done! Thank you!
my pleasure!
Very good and deep explaination.👍
Wanted some videos for USGAAP (leading Ledger) and IFRS (non leading ledger ) Accounting enteries in leading ledger , non leading , and extension ledger.
Does IFRS(non leading ledger shows actual accounting enteries or just used for reporting purposes).
Please make a video 👍.Thanks in advance
I did a video explaining Parallel ledgers, check this th-cam.com/video/iCYfAdLoWG4/w-d-xo.html
Thanks for the Super clarity, Loved it 👍👍
cool, is it mean for F.01, u can have hard curr ? And explain too about parallel curr in asset accounting level :D
Hello I didn't understand in this video, is the currency that we defined when defining the company, local currency or global currency? If the relevant currency is local currency, then in which part is Global currency defined?
Here you go
th-cam.com/users/shortsEAQBiirHB3I?feature=share
Hi Abdullah, may I know in controlling are, should I assign currency type to 30 or 20? what is the difference? Also If I have existing company using type 10, should I change to another currency type? or I should create a new controlling area?
Dear Abdulla, As per this currency how many depreciation area needs to be create in assets?
Thanks a lot Abduallah. Can you pls explain the importance of various Valuation Approaches (Valuation Views) ex, Legal, Group and Profit center valuation, etc. Thank you
You're welcome , Will do my best
Thanks abdul!! Keep posting. If I assign several currency to the company code in finsc_ledger, will there be any impact in other fi co areas
Welcome, that's a very open ended question.
Assigning currencies means you want to generate reports in these currencies
Hi Abdullah, thank you for the nice videos. I am unable to join as a member. It seems there is some technical issue.
Hi Srinivas, some countries don't have this option, mainly Pakistan
@@AbdullahGalal I am from India but currently in Oman. How can I subscribe?
Thank you for sharing the very useful videos on SAP, I have been following you in TH-cam for about 2 years. I have small requirement on foreign currency. I have an Invoice in different currency but the payment should be made in different currency and the Invoice should be auto cleared after the payment from F110. is this possible is there any document i car refer for this requirement solution.
Eg. Invoice is EUR 100 and I am going to pay the same in USD Equaling lets say 90USD, can I include the EUR Invoice in F110 for payment in USD currency and is it possible to clear the Invoice document automatically after the payment is released.
F110 should clears all the paid invoices so it should clear this one too. I see this is an old comment, have you figured this out?
Thanks for such a nice explanation! I just have a doubt about companies and group as a whole. For example- There is corporate group Relyance. This has 3 business lines 1. Relyance Telecom 2. Relyance FMCG 3. Relyance Power. Relyance telecom has business in India and US. Relyance FMCG has business in China and Japan. Relyance power has business in france and UK. So In SAP Relyance Telecom will be defined as a company.( Z100) two co codes will be created one for India(1000) and one for US(2000). these co codes will be assigned to Company Z100. This company currency will be Group Currency or Global Company currency? Also we can get report at company level. How Financial report can be drawn at the whole group level that is for Relyance group.
> Company currency is Global Company Currency, Client currency is Group currency
> We define a group chart of account and assign it to the different operational COA in company codes then we generate consolidated FS with the group COA
@@AbdullahGalal Thankyou for replying
Question: Scenario: client wants to change/Add EUR currency for group reporting? Earlier group reporting was USD. What is the best way to add new currency EUR which can be used for group/management reporting
So from Business scenario point of view, what is the difference between Group currency and Global Company currency? Will they be the same currency?
It all depends on your business requirements.
If you have a customer asking for many currencies you will start mapping them to different types
What is the transaction code for Assign to company code and ledger?
FINSVC_LEDGER
You should follow the menu path to discover the other related settings
Hi Abdullah, Currency Type 20, can it be maintained in FI, pls clarify, thanks in advance
Can we use two exchange rates in the same company code? If yes, then how to do it?
My first question wuld be: why do you want to do this? what's the business requirement?
Then read this thread www.toolbox.com/tech/enterprise-software/question/exchange-rate-type-default-different-from-m-for-a-company-code-061910/
@@AbdullahGalal We have two rates at which we procure USD, one at the bank rate and one from the parallel market. Both the rates are different owing to the market dynamics. And also due to certain legal regulation some Raw Materials imported in the country are not allowed to procure forex from Bank at bank rate and hence have to procured at Parallel Market rate. So now we have procurement of RM at different rates . We need to track the CNF rate of procurement based on the exchange rate used for procurement. How do we do that?
but in financial statement (FSV) values will be will be shown in which currency for consolidation purpose and for standalone financial statement
You can always choose the currnecy you want in FSV when you run the reports
Hi Abdullah, thanks for the valuable video here. How much you charge for the online class.
Hi, I don't provide any classes currently
Q1.Whether freely defined currency available in Asset and ML to map? Q2. Whether 3rd FI bseg currency should be one of the freely defined currency? Plz explain abt it more
Thank you for the notes, will do my best
Hi Abdullah can i get FICO end to end process training if i join as a member
Hi Abduallah, Can you pls explain in which cases Currency types 11,12,31 and 32 to be choosen? Thank you
Hi, this is related to the valuation views so will include them there if I make a video about this
How will the parallel currencies look like after running forex revaluation?
I need a help on that I m not able to find chart of deprication in cloud
Masha Allah I want to become like you brother please help me out to learn new things may allah bless you and me with good health ❤️ jaza-kal-allah khair
Jazana Allahu w eyakum Abdul
Hi Abdellah. That what i call. TH-camr ! Keep awsone work.
nicee, can u please also explain the migration issue with CType 20, CO perspective, once again thanks so much
You're welcome, I can't demonstrate any migration topics as I have no suitable demo system
Hi can you pls upload a vedio of chart of deprication in S4 hana cloud
Thanks for the video
Can we reverse MIGO/MIRO for previous periods?
It depends on the case, and it's usually a complicated process
Hi. Anybody...can you tell me how the global company code currency 60 is different from... group currency 30...bcs in ecc group currency is used for reporting purposes
Check this amazing blog, it will help you:
blogs.sap.com/2018/01/02/sap-s4hana-currency-setup/
How can we use this currencies in Asset accouting
That's a very big question that requires a series of videos to reply to, and I'm planning to do that when I get to Assets
f5557 error in sap FICO local currency not determined while posting GL
How to setup multiple pricing in multi currency in SAP. Example:
Product A priced
USD 1.00.
Can$ 1.20
MYR 4.50
Base currency MYR.
Please anyone can tell me i have a requirement that they want to see the document e.g vendor invoice or customer invoice in local currency e.g AED and 2nd currency USD also so i think this can fulfill their requirement anyone can please confirm this i will be very thankful to you
Hi Husnain, yes it can fulfill this requirement
@@AbdullahGalal Thankyou so much for your kind reply❤❤❤
lucid...
Thanks
Invoice received in SGD currency, PO currency created in USD currency. Conversion rate is not mentioned on invoice. Can we post this invoice