Currency changeover Venezuela - Bolivar Soberano

[former_member370991]

Hi Gurus,

We have to make the change from VEF (Bolívar Fuerte) to VES (Bolívar Soberano) - also have to change company local currency. Although most of currency changeovers are done on the first day of every year, this one will be made on June the 4th.

I know that we have to take the configuration steps stated on note 2624840 (Currency amendment for Venezuela as per ISO amendment number 166)

My questions are:
What happens to documents still open for compensation on the old currency (VEF)?
What happens to the account balance for the accounts that balance on VEF? Will the TCODE FS10N behave normally?

Should we just create a new company and migrate the data or is there any better solution?

Best regards

[iklovski · Accepted solution]

Hi,

What is really important is whether you have payments to make in VEF after 4th of June. Because, balances, unfinished documents, etc. can remain in VEF; you can define a transfer of VEF-to-VES in your customization following note's recommendation. However, if you anticipate that you would have to make payments in VEF, you should check with the bank whether such payments will be accepted. Some banks will still accept, but most of them will not. In this case, you would need to re-introduce your open items, which are still in VEF, in VES currency. Alternatively, you would have to block the possibility to pay in VEF by validation rule, forcing to use the new code.

Regards,

Eli

[former_member370991 · Accepted solution]

Hi Eli,

Thank you so much for your answer. After you terminate the currency, the system prompts a warning message that can be turned into an error message. But i think you are correct and it's better to create a validation rule to control that.

Considering your sentence: "In this case, you would need to re-introduce your open items, which are still in VEF, in VES currency" you're saying that the documents should be reversed and remade in VES?

Can i change the company's local currency before 4th of June? Will it be harmful to the system?

Best regards

[iklovski · Accepted solution]

Sorry, didn't notice that you have it also defined as local currency. Then it becomes more tricky, but still feasible.

You can consider defining additional local currency, while keeping the old one in OB22, for example. Don't forget that you would also need to change master data currency, bank accounts, etc.

[former_member370991 · Accepted solution]

Hi,

First of all thank you for the kind help.

Wouldn't we have some trouble when i change the currency on the G/L accounts? Or the bank accounts for that matter. The year account balance will be mantained in VEF until June the 4th and in VES for then on. What will be the expected behaviour?

Thanks for your support.

[iklovski · Accepted solution]

You will have to change the currency or keep maintaining artificial rates for VEF; otherwise, you would have issue with revaluation and exchange rate differences postings.