Czech Republic - default currency EUR or CZK?

Alex Blasenheim

Well Known Member
I'm about to setup an E9.1 for an international company involving 2 companies; the US and Czech Republic. Most of the transactions for the Czech company will be in Euros. Reporting requirements: Consolidation in USD (GAAP) and Euros. Statutory requirements for the Czeck Company must be in CZK (Korunas). The JDE localization business partner in the Czech Republic has indicated that the default currency for this company must be set with CZK (F0010), that it is a legal requirement. The Czech Republic is in the European Union but it may be years before they are on the Euro currency. I can understand the legal requirement of statutory reporting in CZK but this can still be done with the Euro as the default currency (F0010). Anybody have experience with this type of situation?
I have an answer for my own question for those that are interested. It seems that the Czech localization is expecting the CZK as the currency code in other tables besides the General Ledger. VAT Tax reporting (F0018)and many of the Sales reporting are examples. A good chunk of the Czech localization would need to be customized if the currency was set in Euros.
Can't you use one ledger say AA for domestic (koruna) and the CA for foreign (Euro)?