What Is The Supported Solution for the Venezuelan Currency Revaluation (3 Zeros Less)?
(Doc ID 2388942.1)
Last updated on AUGUST 24, 2021
Applies to:Oracle General Ledger - Version 220.127.116.11 to 12.2.7 [Release 11.5.10 to 12.2]
Information in this document applies to any platform.
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, which means 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?
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