General Ledger - EBS (MOSC)

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Best practice on ledger currencies in a global company with operation in multiple countries

edited Aug 10, 2014 4:41PM in General Ledger - EBS (MOSC) 3 commentsAnswered

Hi

We are working on an implementation where the Company is headquartered in US and is working out of multiple locations in Europe and Asia. We were looking to create a consistent design where the Primary Ledger for all the countries using the same Ledger and we use a secondary ledger for statutory Chart of Accounts requirement. There has been a discussion around what should be the currency we should be using at the Primary Ledger level for all the countries, local currencies or USD since consolidation is supposed to happen only in USD.

I think the right approach is to use the local currencies and using USD won't work or will entail a lot of complications. Does someone here has any document or inputs on what are the best practices around this? It will really help if you can share or comment on this.

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