Currency Management

The Currency Management (CM) module provides functionality to support multiple currencies so you can do business internationally and manage international subsidiaries.

Once activated, operations in multiple currencies become available through all the financial modules.

View PDF data sheet
 


Currency Rate Entry
 


Statement Translation
 


Statement Translation
Details


Highlighted Features

Realized Gains and Losses Calculation
Acumatica automatically calculates realized gains and losses from foreign currency transactions entered into the other financial modules. This can include receiving payments from customers, issuing payments to vendors, and transferring funds between accounts.

Unrealized Gains and Losses Adjustments
Acumatica can compute and create adjusting entries for unrealized gains and losses associated with AP liabilities and AR assets recorded in foreign currencies. Before closing the financial period, you can run the unrealized gain and loss calculation process to prepare auto-reversing entries in the GL for all open documents recorded in foreign currencies.

Financial Statement Translation
Acumatica provides financial statement translations so you can manage subsidiaries that operate in a foreign currency or submit your financial statements in a foreign currency. You can define the appropriate rules for translating GL account balances and Acumatica will perform the translation of the trial balance into a foreign currency following FASB-52 standards. Translation gains and losses are automatically calculated. You can automate the consolidation of financial statements from multiple subsidiaries by using this functionality in combination with the consolidation features in the GL module.
View PDF data sheet on consolidation.
 

Additional Features

  • Revaluation of GL Accounts: The Currency Manager can revalue General Ledger accounts that are denominated in a foreign currency. The revaluation process adjusts the value of the base currency of the account depending on the effective currency rate and posts the appropriate currency gain or loss transaction.
     
  • Unlimited Currencies and Rate Types: The Currency Management module allows you to use an unlimited number of foreign currencies and rate types. You can assign different rate types to vendors and customers that use the same foreign currency. You can update exchange rates at any time.
     
  • Configurable Decimal Precision: Acumatica allows you to configure the number of decimal places for each currency. The number of decimal places will be considered during all rounding operations and will be reflected in all data entry screens and reports.
     
  • Automatic Handling of Rounding Differences: Acumatica automatically computes rounding differences that occur when recording transactions in multiple currencies. The rounding differences are automatically posted to a designated GL account.
     
  • Complete Tracking of Gains and Losses: Acumatica allows you to create detailed analytical reports covering the gains and losses associated with operating in multiple currencies. For each currency used in the system you can assign accounts and subaccounts to track realized gain, realized loss, unrealized gain, unrealized loss, translation gain, translation loss, revaluation gain, revaluation loss, rounding gain, and rounding loss.
     
  • Currency Rate Lookup: Acumatica computes foreign currency transactions using the transaction date plus the rate type that is specified for the transaction. Users with appropriate permissions can override the currency rate but will receive a warning if their entry exceeds the acceptable rate variance.
     
  • Historical and Auditing Reports: Acumatica comes with a predefined set of reports to monitor the history of currency rates as well as translations and revaluations performed by the system.
     
  • Audit Trail: The Currency Management module provides a complete audit trail of all currency related transactions. The system keeps the details of all entered or imported transactions, including the user who entered the transaction and the user who modified the record. The auditing process is simplified by having notes as well as supporting electronic documents attached directly to the transactions.

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