Configure currency format

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Configure currency format

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All transactions are processed based on three currencies:

  • Transaction currency

  • Functional currency (also known as base currency or company code currency)

  • Reporting currency (also known as consolidation currency)

For billing-based revenue recognition, exchange rates are obtained from your ERP systems and populated in RevPro. Then, all billing based revenue is recorded based on the rate at the time of billing.

For unbilled revenue recognition, either the exchange rate as of the order book date or the exchange rate of the current period can be used. When the actual billing occurs, RevPro reverses the revenue that is originally booked based on the original exchange rate, and then re-book the revenue entries based on the exchange rate from the billing transaction.

Currency is one of the basic system configurations in RevPro. All currencies are predefined in RevPro with standard currency codes during RevPro implementation phase. You can configure the display format and number rounding for the currency that you will use in RevPro.

Complete the following steps to do the basic configuration for a currency:

  1. Navigate to Setups > Application.

  2. Click side-menu-open.png to open the side menu and click Currency. All currencies are listed on the page.

  3. Locate the currency that you want to configure, hover the mouse over the line, and then click icon-edit.png. The Edit Currency Code window is displayed.

  4. To configure the display format of the currency, specify the format model in the Currency Format field. For example, "999G999G999G999G990D00" indicates there are two decimal places after the dot and a comma is used to separate the numbers at every three digits.

  5. To configure the number rounding, specify the number of decimal places to display in the Rounding field. For example, 2 means the number will be rounded to the hundredth.

  6. Click icon-save.png to save your changes and close the window.

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