Currency

A Currency is a master data entry representing a monetary currency used across the system — in contracts, payments, price lists, and partner master data. Each currency stores an exchange rate relative to the system's base currency (Euro), which the platform uses to convert values when multi-currency transactions need to be compared or consolidated in reporting. One currency can be flagged as the system default, pre-selecting it in new records and as the fallback when no explicit currency is specified.

In international trading environments, accurate currency configuration is essential: a contract concluded in USD must carry the correct exchange rate to ensure that the Euro-equivalent value reported in financial summaries and VAT filings is correct. The exchange rate stored on the currency record is typically a reference rate updated periodically — individual contracts or transactions may override it with the rate valid at the time of agreement.