FICO Configuration Series – Part 7
Define Countries
Global Settings >> Set Countries >> Define Countries
Transaction Code: OY01
In the first screen, you need to select the country (MX) – the next screen that pops up will require the following details:
Hard Currency: Enter the key of you want to set as hard currency for the country. Hard currencies are used in countries with high inflation to improve the value of the transactions. When a hard currency is selected, the document is automatically updated in the local currency and the hard currency.
Index-Based Currency: Index currencies are used for statutory purposes in some countries with very high inflation. The way index currency valuation reporting works depends on the rules of each specific country. Enter the key of the currency that you want to set as index currency, if applicable, for your country.
Date Format:
Enter Date preference. Also keep in mind whether Europeans may use the same database at some future time.
Decimal Format:
Decimals using periods or commas. Also keep in mind whether Europeans may use the same database at some future time.
Although hard currency has been configured at country level, to activate this feature, hard currency needs to be configured at the company code level be defining parallel currencies.