Best Practice - Currency configuration

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Posted on 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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CU30040838-0 13 on at

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Best Practice - Currency configuration

@Lea Kraus @Joke Laukens @Ivan (Vanya) Kashperuk

Sorry for the delayed response. Actually got some good pointers from my connections at Microsoft.

Basically,

You can create a new unit group if prefered.

You cannot change base unit of default group, but you can actually change the Unit itself to reflect EURO 2022 (for instance) instead of USD 2018 and then set up conversions (might be some drawbacks, but did not think of this).

The idea here is not to have a precise conversion but rather be able to use spend based GHG emissions as this is not a finance system.

Hope this provided some clarify for others, it did for me :)
Vahid Ghafarpour 11,466 Super User 2025 Season 1 on at

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Best Practice - Currency configuration

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Lea Kraus 130 on at

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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 26 on at

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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 26 on at

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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 at

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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 98 on at

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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.