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Bulgaria country is switching currency from BGN to EUR officially to merge into Europe.

in General Ledger & Intercompany 2 comments

Bulgaria country is switching currency from BGN to EUR officially to merge into Europe. So, as part of that all the ledgers and legal entities that are setup with BGN currency in Bulgaria country would be impacted. We need to create new secondary ledger EUR as the reporting currency for BG_SL_BGN is BGN.

  1. Since a secondary ledger is being created, the accruals and revaluation are processed during the month-end close and subsequently reversed in the following month. But these reversals are currently posted in BGN, whereas the business requires them in EUR currency.
  2. Since a secondary ledger is being created, a new TAX book also needs to be set up. What happens to the existing assets in corporate book?
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