Which process must be undertaken to define custom currencies in a model?

To define custom currencies in a model, the process of managing currencies is essential. This involves setting up and configuring the different currencies that will be used within your financial planning model. When managing currencies, you can define exchange rates, determine how these currencies interact with each other, and ensure accurate conversion and reporting across different units.

Establishing a robust currency management process allows for flexibility and adaptability in financial planning, especially for organizations operating in multiple currencies or regions. By implementing this process, users can ensure that financial data is consistently tracked and reported in the appropriate currencies, which is vital for accurate analysis and decision-making.

While other processes like defining custom attribute definitions, aligning currency with business units, and establishing reporting currencies are important in their own contexts, they do not specifically focus on the foundational setup and management of custom currencies in the model. This makes managing currencies the key process for defining and using custom currencies effectively.