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Primary Ledgers by currency as opposed to country

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edited Oct 20, 2023 1:23PM in General Ledger & Intercompany 1 comment

Summary:

We are implementing Oracle ERP for a global client. They have legal entities in North America (US, CN), Europe [IE, NL, LU], UK, Asia [SG, HK] and The Middle East [UAE].

Legal entities in North America, Asia and Middle East will use "USD" as the ledger currency, whilst countries in Europe will use EUR and UK - GBP.

My intention is to create 3 primary ledgers by currency [USD, EUR, GBP] e.g. XX PL USD, XX PL GBP, XX PL EUR. Chart of Accounts, Calendar and Accounting Method be remain the same for all these countries. Group financial reporting will be in USD. I will create secondary ledgers as appropriate for some countries catering to regional accounting/reporting requirements.

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