MULTIPLE CURRENCY MODULE
The Multi-Currency Management module provides multinational entities with the controls for international currency standards, foreign currency transactions for selected customers and vendors, and full currency gain and loss impact calculations which automatically flow to financial statements. The accounting system multi-currency capabilities empower you to control the way you do business on a global scale.
MULTI-CURRENCY BENEFITS
- Define as many currencies, exchange rate types and exchange rates as desired
- Create exchange rates by date or schedule exchange rates for date ranges
- Use common or separate currency transaction rates for buy transactions, sell transactions or any individual transaction document
- Setup default currencies and currency rates for vendors and customers for fast and error-free transaction entry
- Automate realized and unrealized gains and losses due to currency fluctuations
- In a single click post gains and losses to the general ledger
- Easily comply with international currency standards such as FASB 52, international standards 21 and BASDA
CURRENCY RECORDS
Foreign currency record management permits user-defined currency categorization and extensive G/ L account and class designations for
automated unrealized and realized currency valuation and balance
adjustments. Realized gain and loss transactions are associated with
vendor payments and customer receipts and used to adjust the change in
the base value of
a transaction between the invoice and payment period.
Gains and losses automatically default to the designated G/ L accounts when
posting the balances to the general ledger.
CURRENCY MANAGEMENT
 Multi-currency management permits company configuration options to setup currency information, establish the base currency and designate data entry default and control options. User override controls designate whether
customer, vendor or general ledger account currencies are maintained or
can be modified at transaction entry. Date effective document transaction
configuration provides the utmost flexibility for currency rate selection.
CURRENCY REVALUATION
 Accounting system multiple-currency management allows the recording of
order, invoice, procurement, voucher, disbursement, inventory, job and G/ L transactions in the currency of choice. Currency revaluations and realized and unrealized gains and losses are automatically calculated and included in financial statement presentations.
CURRENCY RATES
 Foreign currency rates allow you to establish exchange rates between currencies for a given date and rate type combination. Currency rates utilize effective dating. When you create foreign currency transactions, the rate is in effect for the currency ID, rate type, and effective date, until an updated rate is entered. Exchange rates are tracked for historical lookup and audit trail visibility.
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