Trade in Multiple Currencies

§  Invoice customers and vendors in an unlimited number of currencies. For example, invoice, make and accept payments and create orders in the currency preferred by the customer or vendor for each individual transaction.

§  Assign a default currency to a customer or vendor that the program suggests whenever that customer or vendor is invoiced, paid or makes a payment. For example, select a specific currency for a specific transaction.

§  Manage entire customer and vendor accounts in a foreign currency. View all payable and receivable accounts in both local currency and the foreign currency in which the transaction was made.

§  Specify a fixed item price for each customer or vendor account. For example, ensure that British customers purchasing a particular item from your company are always invoiced for a specific amount in pounds, regardless of fluctuations in the exchange rate between your local currency and the pound.

Flexible Currency Management

§  Define an unlimited number of currencies and add or delete currencies at any time.

§  Handle the way in which foreign currency amounts are rounded and posted to the database.

§  Define rounding precision for amounts, invoice amounts, unit amounts and application amounts.

§  Determine how amounts are shown on screen by specifying how many decimal places should be presented for an amount. Define decimal places for amounts and unit amounts.

Exchange Rates

§  Define periods for specified exchange rates. A period can be as short as one day.

§  Set up relational exchange rates in the format applicable in your country.

§  For example, specify that one unit of local currency purchases X units of foreign currency, or that X units of local currency purchases 100 units of foreign currency.

§  Define specific exchange rates for daily transactions and specific exchange rates for the adjustment of balance sheet accounts.

§  Run a batch job to take account of adjustments to exchange rates in a specified period.

§  Adjust customer, vendor and bank accounts and specify that the program make adjustments to G/L accounts that use an additional reporting currency. Maintain a full record of exchange-rate adjustments.

§  Compare rates and post corrections to previous postings using accurate historical exchange rates.

Additional Reporting Currency

§  Maintain general ledger in two different currencies so you can view balances online and print financial reports for two currencies simultaneously.

§  Use an additional reporting currency in order to operate and report to authorities as needed.

§  Maintain a foreign currency as your base currency to align your accounts with the currency used by corporate headquarters.

Euro Conversion Tool

Transfer company accounts to the euro with a straightforward and reliable process, which is no more difficult than running a batch job.