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Best Practice - Currency configuration

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Posted on 20 Mar 2025 10:19:54 by rasmusgj

Hi everyone!

I have a simple yet semi-critical question.

It doesn't seem to be documented, but if I would need to support many currencies especially for 3.1, is there a best-practice approach, or is it something that I would configure individually for each customer based on their preferred practice (also considering maintenance/inflation for each year)?

I understand systemcurrencies cannot be used as the continuous exchange updates would cause issues, but can anyone provide some thoughts or pointers on this, that would be appreciated (just so I do not reinvent the wheel, yet).

Thank you!

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Sustainability Manager

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Lea Kraus 111 on 27 Mar 2025 at 11:19:18

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Best Practice - Currency configuration

Hi @rasmusgj,

I had the same challenge and what we did is to create a separate unit group for this FY.

This way, we were able to use our own conversion rates the finance team provides us and also to set the base unit to EUR. For the next FY we will probably then create another unit group again called "Currency FY26".

But I'm also wondering about long-term consequences or if there is a better way to achieve that.
rasmusgj 19 on 25 Mar 2025 at 13:18:32

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Best Practice - Currency configuration

I just tested with installing the Exiobase 2022 Factor Library, and that actually inserted an EURO 2022 currency in the default unit group, so tells me there is something systematic being leveraged, quite important to be aware of.
rasmusgj 19 on 25 Mar 2025 at 08:24:31

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Best Practice - Currency configuration

Thank you @Ivan (Vanya) Kashperuk, I also have read that, but still not entirely sure what that entails.

Does that mean that:
1) If I were to configure currencies, I would need to convert everything to USD as of 2018, since that is the base (read-only) value?

or

2) That I should/could create an entirely new Unit Group called Currency and go from there? Or could that cause issues in the long-term?

I suppose that is my question.

Hope this makes sense :)
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Ivan (Vanya) Kashperuk on 24 Mar 2025 at 19:24:17

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Best Practice - Currency configuration

See some suggestions here: Scope 3 emissions - Microsoft Cloud for Sustainability | Microsoft Learn

General advice is to explore what would work best based on your policies, Microsoft avoids giving specific recommendations here
Joke Laukens 70 on 21 Mar 2025 at 10:12:06

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Best Practice - Currency configuration

Ah great question.. I have been wondering about that too.

There is indeed not that much available out of the box, so I assumed that this was something to tackle outside of the sustainability manager.

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