Acumatica
KEY BENEFITS
ACCESSIBLE FROM ANYWHERE
Access 100% of your currency management features from anywhere using any popular web-browser.
MANAGE INTERNATIONAL CUSTOMERS & VENDORS
Maintain balances in a local currency and the base currency for each vendor and customer. Realized and unrealized gains/losses are performed automatically.
MANAGE INTERNATIONAL SUBSIDIARIES
MORE EFFICIENT BOOKKEEPING
Perform financial statement translation to aggregate data from foreign subsidiaries into consolidated reports. Maintain separate books for the foreign entity.
Improve your period book closing processes by automating revaluation of GL accounts, creating auto-reversing entries for unrealized gains, and computing realized gains/losses.
REDUCE IMPACT OF CURRENCY FLUCTUATIONS
Isolate the potential impact of currency fluctuations with drill down reports and dashboards.
CURRENCY MANAGEMENT
Conduct business globally by using advanced currency management features to manage international subsidiaries, vendors, and customers.
The Currency Management (CM) module automatically computes realized and unrealized gains and losses, performs account revaluations, and performs financial statement translation so you can save time managing international subsidiaries and operations. Once activated, operations in multiple currencies become available through all Acumatica financial modules.
KEY FEATURES OF CURRENCY MANAGEMENT
| Feature | Description |
|---|---|
| Realized gains and losses | Acumatica automatically calculates realized gains and losses from foreign currency transactions entered into any financial module. This can include receiving payments from customers, issuing payments to vendors, and transferring funds. |
| Revaluation of GL accounts | Revalue General Ledger accounts which are dominated in foreign currency. Before closing the financial period, you can run the revaluation process to compute and create the auto-reversing adjusting entries for unrealized gains and losses. |
| Financial statement translation | Perform financial statement translation to manage subsidiaries that operate or submit statements in a foreign currency. |
Acumatica allows the use of different rate types for different accounts during the translation process. The currency rate table is kept in Acumatica and you can configure as many currencies as desired.
ADDITIONAL CURRENCY MANAGEMENT FEATURES AND BENEFITS
| Feature | Description |
|---|---|
| Unlimited currencies | Maintain cash account balances in your base currency and your bank account currency. Execute cash account revaluation to reflect the changes associated with changes in currency rates. When you transfer funds between cash accounts in different currencies, Acumatica automatically performs the realized gain and loss calculations. |
UNLOCK YOUR BUSINESS POTENTIAL WITH ACUMATICA
The AP Bill entered in Great British Pounds (GBP) is automatically translated into the USD-based currency, keeping track of both values at all times in the database.
Acumatica is a leading provider of cloud business management software that empowers small and mid-size businesses to unlock their potential and drive growth.
Built on the world’s best cloud and mobile technology and a unique customer-centric licensing model, Acumatica delivers a suite of fully integrated business management applications such as Financials, Distribution, CRM, and Project Accounting, powered by a robust and flexible platform.
TAKE CONTROL OF YOUR BUSINESS
Successful companies know the value of having visibility and control over their business. Acumatica enables you to drive growth, manage costs, and be productive.
PLAY TO YOUR STRENGTHS
Every business is unique. Play to your strengths by doing what works best for your company. Tailor your business management software to fit your exact needs, no matter how specific your requirements.
EMPOWER YOUR PEOPLE
Your business isn’t confined to four walls. Why should the people that impact your business be? Acumatica goes wherever your people go – anytime, anywhere, and on any device.