Skip to Content
avatar image
Former Member

Currency changeover Venezuela - Bolivar Soberano

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

Add comment
10|10000 characters needed characters exceeded

  • Get RSS Feed

1 Answer

  • Best Answer
    May 22 at 09:23 AM

    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

    Add comment
    10|10000 characters needed characters exceeded

    • 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.