IHC account creation (F9K1): In which Currency?

[Former Member]

Hi all,

I will need your help as I need to create an IHC account in a CCY which is different from the functional CCY of the entity.

Example, I need to create a USD account for an entity with CNY as functional CCY.

Is this possible?

When will all IHC balances be converted into the functional currency?

Thanks a lot!!!

[former_member183378]

Hello Samia,

Yes, it is possible to maintain the IHC Accounts in different currencies. You can use these accounts to clear the open items in the respective currencies.

You have to maintain the releated settings in FBZP compulsorily else you will face some issues.

Please let us know if you face issues further.

Thanks & Regards,

Lakshmi S

[Former Member]

Hi Samia,

You can create IHC account in different currencies.

These current accounts thus created can have different currency other than the legal entity.

Suppose you have subsidiary 1000 - entity (comp. code). Now it has legal CCY as EUR.

But it needs to pay IHC in USD, CNY, JPY, EUR. Then create House Bank for your IHC in your entity 1000. Create 4 bank accounts corresponding to 4 currencies.

Then create 4 Current accounts in IHC for each of these 4 currencies e.g. CA1000EUR1

CA1000USD1, CA1000CNY1 etc.

These respective accounts will be used to pay to IHC for the open items in respective currencies.

Maintain this setting in Bank Determination Ranking order.