Businesses that want to succeed in the global marketplace need core financial capabilities with the flexibility to handle the intricacies of a multi-currency enterprise. Sage Accpac helps simplify your transactions and provides the power into how the international arena is impacting your bottom line.
Accounts can be setup as multicurrency accounts. You can control which currencies can be posted to any account, and revaluation possiblities can be established on an account by account basis. A variety of different exchange rates set can be maintained and foreign currency functions can use any of these rate sets.
Open items are revaluated in sub-ledger revaluation processes and foreign currency GL accounts can be revalued in a GL revaluation process. Additionally, realized gains and losses are calculated.
Multiple exchange rates can be used such as daily spot rates or monthly average rates. Entries made to a multi-currency account can be based on the functional currency or the source currency. The editing process allows precise matching of foreign currency amounts. Because the exchange rate is stored in the system database, it can be shared across multiple company databases.
- Unlimited currencies
- Unlimited rate types
- Print reports in either functional or source currencies
- Enter transactions in multiple currencies
- Process payments or receipts in the currency of your customers and vendors
- Restate outstanding source currency balances and transactions as exchange rates fluctuate with comprehensive currency revaluation
- Control how you record gains and losses, selecting from the Recognized Gain/Loss Accounting Method or the Unrealized Gain/Loss Accounting Method for each company (only available with version 5.5 and above)