The currency of cash or cash equivalents that a company plans to use for the following:
- Receiving payments from customers for the goods shipped or services provided.
- Paying to suppliers or other counterparties for the received goods or services.
The settlement currency is predefined in the Specifying billing details of a counterparty's card. This currency can differ from the presentation currency. In this case, supplier balance, customer balance, and other miscellaneous payables or receivables are recorded both in the presentation currency and settlement currency.