What Is the Supported Solution for the Venezuelan Currency Revalution (3 Zeros Less)?

(Doc ID 2388942.1)

Last updated on APRIL 25, 2018

Applies to:

Oracle General Ledger - Version 11.5.10.2 to 12.2.7 [Release 11.5.10 to 12.2]
Information in this document applies to any platform.
Bolivar
Revaluation

Goal

Due to a Venezuelan Governmental Resolution issued on March 22nd, 2018 (Official Gazette # 41366), the current Venezuelan Currency (Bs) will be changed by a new Currency (BsS) which will be a division by 1.000 (one thousand) of the current currency, it means that all concepts related with currency have to be divided by 1.000.
This resolution will be rolled out in Venezuela from June 4th 2018.

It is mandatory for all companies in Venezuela to re express all the currency concepts in all technological platforms.

How can this be achieved for users of Oracle's E Business software - General Ledger (GL) and other subledgers?

Source:
http://minci.gob.ve/2018/03/frases-nuevo-cono-monetario-bolivar-soberano
and
http://www.economynext.com/Venesuala_s_central_bank_to_cut_three_zeros_off_peso_amid_hyperinflation-3-10191.html


Solution

Sign In with your My Oracle Support account

Don't have a My Oracle Support account? Click to get started

My Oracle Support provides customers with access to over a
Million Knowledge Articles and hundreds of Community platforms