Currency Management Currency Management

Conduct business globally using advanced currency management features to support international subsidiaries, vendors, and customers

How Currency Management can work for you

Automatically compute realized and unrealized gains and losses, perform account revaluations, and complete financial statement translation. Multiple currency features propagate through all Acumatica financial modules.

Key Benefits of Currency Management for your Company

  • Realized Gains and Losses Calculation

    Automatically calculate realized gains and losses from foreign currency transactions including payments received and issued along with funds transfers between accounts.

  • Unrealized Gains and Losses Adjustments

    Create adjusting entries for unrealized currency exchange gains and losses. Automatically prepare auto-reversing entries in the GL for all open documents recorded in foreign currencies.

  • Financial Statement Translation

    Manage subsidiaries operating in a foreign currency or prepare your financial statements in a foreign currency – translation of the trial balance follows FASB-52 standards. Automatically calculate translation gains and losses. Automate the consolidation of financial statements from multiple subsidiaries in combination with the GL module.

Important Features of Currency Management

  • Revaluation of GL Accounts

    Revalue General Ledger accounts denominated in a foreign currency. Adjust the value of the base currency and posts the appropriate currency gain or loss transaction.

    Unlimited Currencies and Rate Types

    Assign different rate types to vendors and customers that use the same foreign currency. Currency Management supports an unlimited number of currencies and rate types. Exchange rates can be updated at any time.

    Configurable Decimal Precision

    Configure the number of decimal places for each currency.

  • Automatic Handling of Rounding Differences

    Automatically compute rounding differences sensitive to desired decimal prevision. Rounding differences are automatically posted to a designated GL account.

    Complete Tracking of Gains and Losses

    Create detailed analytical reports of gains and losses. Assign accounts and subaccounts for each currency to track realized and unrealized gains and losses, translation gain and loss, revaluation gain and loss, rounding gain and loss.

    Currency Rate Lookup

    Calculations use the transaction date and the rate type for the subject transaction. Manual rate overrides will receive a warning if the entry exceeds the acceptable rate variance.

  • Historical and Auditing Reports

    Predefined reports monitor the history of currency rates as well as translations and revaluations performed.

    Audit Trail

    Create a complete audit trail of all currency related transactions including the ID of the user who entered the transaction and the user who modified a record. Notes and supporting electronic documents can be attached directly to the transactions.

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