Acumatica Currency Management
- 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.
- 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 change in currency rate. When you transfer funds between cash accounts in different currencies, Acumatica automatically performs the realized gain and loss calculations.
- 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 Perform financial statement translation to aggregate data from foreign subsidiaries into consolidated reports. Maintain separate books for the foreign entity.
- MORE EFFICIENT BOOKKEEPING 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.