Does your company deal with multi-currencies? Acumatica has the functionality to stay in control of your finances when dealing with multiple currencies. These advanced features allow users to support international vendors, customers, and others who you may need to manage to run your business. See below a recap of some of the key benefits and main functions of the multi-currency function in Acumatica.

Key Benefits:

• Calculate Realized Gains and Losses: Acumatica’s functionality will automatically calculate gains and losses from transactions between two currencies. This means the system will issue transfers between accounts if needed.
• Transact in Multiple Base Currencies: If two companies in the system need to transact in multiple base currencies, Acumatica has the ability to do so. The system can set a preferred base currency.
• Translate Financial Statements: Acumatica has the ability to handle account standards for different currencies and can automate processes for reporting when needed.

Main Functions:

• Multiple Base Currencies: Acumatica can handle multiple base currencies and can do reporting across many different currencies.
• Currency Rate Look-up: Calculations done in Acumatica use the transaction date in the system. Rates are held within the system and are updated automatically. Users can manually override a rate with the correct permissions.
• Pre-Defined List of Currencies: Acumatica has a list of currencies listed in the system through the modules that support multiple base currencies. Each currency will display the rate and corresponding symbol.
• Evaluation of General Ledger Accounts: Acumatica’s support of multiple base currencies allows users to revalue general ledge accounts that are in other currencies. Users can adjust the value of the base currency and post the corrected gain or loss in a transaction.

If you are looking for support dealing with multiple base currencies, Acumatica may be just the tool for you. Please reach out to Polaris Business Solutions for more information and to see a full demo; info@polaris-business.com.