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How to Handle redenomination of a currency in GL ?

in General Ledger & Intercompany 5 comments

Summary:

How to handle currency conversion in GL.

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The Central Bank of Sierra Leone on started a redenomination of the country's currency, the Leone, with the removal of three zeros from the notes while keeping their value unchanged.

How to handle currency conversion in ERP. Starting July 1, 2022, Leones will switch to 1000. 

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