Hi,
I have a question regarding whether functional currency = company code currency or not.
Our group reporting and management reporting currency is USD.
we are going to implement many countries.
We have scenario = Functional currency = USD, statutory/VAT/WHT = USD.
We have scenario = Functional currency = Other currency, statutory/VAT/WHT = other currency
However we have another scenario company location in PH, although functional currency is USD but the statutory reporting currency = USD but VAT/WHT = PHP.
As normally we will follow functional currency = company code currency (leading ledger).
As we might know, for defining different currency in VAT report we can activate via General Ledger Account > Business Transaction > Closing > Report > Sales / Purchase Tax Returns > Activate Alternative Local Currency for Advance Tax Return but it is cross client setting. If set up, it will affect other company code.
For WHT it is only using translate date using exchange rate but not at transaction document level.
Should i still implement company code currency as PHP (due to limitation in VAT/WHT) or should i just company code=functional - USD only customise VAT/WHT in the country context, (i have to consider other countries requirement as well)?
Appreciate some advice. Thanks.