Currency Management

Currency management isn’t just about automating calculations as you work in different currencies around the world. It’s also about minimizing your growing midmarket company’s financial risk when currency values change dramatically. With Acumatica, you can easily track your gains and losses and take steps to protect your financial health.

How Currency Management Can Work for You

Acumatica Currency Management helps you increase your volume of international business while staying in control of your finances. Advanced features let you support all your international subsidiaries, vendors, and customers.

With Acumatica, you can automatically compute realized and unrealized gains and losses, perform account revaluations, and translate complete financial statements. These powerful features are available throughout all Acumatica financial modules.

Multi-currency projects (March 2019)

Key Benefits of Currency Management for Your Company

  • Calculate Realized Gains and Losses

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

  • Adjust Unrealized Gains and Losses

    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.

  • Translate Financial Statements Automatically

    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
  • Unlimited Currencies and Rate Types
  • Configurable Decimal Precision
  • Automatic Handling of Rounding Differences
  • Complete Tracking of Gains and Losses
  • Currency Rate Lookup
  • Historical and Auditing Reports
  • Audit Trail
  • Predefined List of Currencies

Revaluation of GL Accounts

Acumatica supports accounting for foreign currency by allowing you to revalue General Ledger accounts denominated in other currencies. 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

Acumatica Currency Management lets you configure the number of decimal places for each currency. Invoices issued in different currencies can be rounded by different rules.

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, and 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.

Predefined List of Currencies

Select from a predefined list of currencies included in the ISO 4217 standard for use in Acumatica. Currencies will display with the proper currency symbol.

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