What is the Cross-Currency Rounding Account in Manage Receivables System Options used for?
Hi,
I am testing outcross-currency receipt application. In the Manage Receivables System Options,we have a mandatory field called Cross-CurrencyRounding Account in both the Billing andRevenue tab and the Cash Processing tab.
What is the Cross-Currency Rounding Account field reallyused for?
This page (HowCross-Currency Receipts Are Processed) says the following about therounding account: Define a cross-currencyrounding account at the Receivables system options level to record any roundingerror amounts created during a cross-currency receipt application forcurrencies that have a fixed-rate relationship.
My understanding isthat a fixed-rate relationship is when you have a fixed rate between twocurrencies (e.g., national currencies were fixed before moving to the Euro),see