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This article applies to:

  • Product: ONESOURCE Determination,ONESOURCE Indirect Tax

Currency specifications

Currency specifications are used by Determination when converting from 1 currency to another using a configured tax rate. You can use the
Currency Specifications
 page allows you to view and manage currency specifications for your company, which may serve as a tax data provider, a custom data provider or a standalone company.
note
Company currency specifications may sometimes be referred to as default currency specifications.

Inheritance rules

The inheritance rules for currency specifications are:
  • The currency specifications for an authority are inherited from the currency exchange data provider or, if a provider isn't used, the company.
  • The currency specifications for an authority are inherited from the tax data provider.
  • The default currency specification's inherited from the currency exchange data provider or, if a provider isn't used, the company.
  • The default currency specification's inherited from the tax data provider.

Transactions requiring currency conversions

When a transaction requires a currency conversion, the currency specifications for the authority take precedence over the system level and company currency specifications.

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