Topics in Multi Currency Accounting

Multi-currency management, from simple to complex, should have functional flexibility to respond to changes in business environment or statutory regulations.

There are numerous aspects to provide flexibility. Here are some key issues when considering a multi currency solution.

Unlimited Currency

Multiple currency management deals with unlimited currencies to handle even the most complex transactions of multinational companies.

Multi-currency per Line

Some enterprises may need multiple currency values per transaction line, and flexible reporting in any currency including JPY, GBP, Euro, US Dollar etc.

Central Control

Currency and exchange rate tables are centrally managed

Individual Base Currency by Company

Each organization can have a separate functional currency, also called “home” or “base” currency. Account can be assigned by currency. Some companies may even have requirement for dual base currencies.

Posting

By assigning currency to the posting account, you can use multi-currency during transaction entry and posting.

Currency Default

You can choose the default value for currency. Flexible exchange rate management guarantees accuracy

Unlimited Rate Table:

Allow unrestricted exchange rate tables for each currency.

Rate Fluctuation:

Set the variance of the rate prevents entry errors. This function can prevent serious mistakes in reporting.

Import from Other Sources

Using import utility, exchange rates can be imported directly from the standard source to the system

Manage Multiple Currency Debt

Revaluation

Net change or revaluation of period balance: Indicate unrealized gains and losses.

“What if “ Analysis

Ability to use exchange rates without adding it to the exchange rate table, you can analyze potential revaluation results