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.
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.
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