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Manage international transactions and financial reporting without relying on disconnected spreadsheets or manual exchange-rate calculations. Acumatica Currency Management automates currency conversion, realized and unrealized gains and losses, account revaluation and financial statement translation across your financial management processes.
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English
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English
Product
Currency Management Software
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 multiple currencies and rate types
- Operate separate companies in different base currencies
- Automate realized and unrealized currency adjustments
- Revalue foreign-currency general ledger accounts
- Translate and consolidate financial statements
Key Benefits of Currency Management for Your Company
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Reduce Manual Currency Calculations
Enter financial documents in their transaction currency and allow the system to apply the appropriate exchange rate. This reduces reliance on spreadsheets, manual cross-rate calculations, and separate currency-adjustment processes.
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Improve Financial Accuracy
Automate the calculation and posting of realized gains, unrealized gains, revaluation differences, translation differences, and currency-rounding adjustments. Designated General Ledger accounts help finance teams track each type separately.
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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.
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Support International Customers and Vendors
Process customer receipts, vendor payments, and other transactions in the currencies your business partners use while maintaining accurate values in the company’s base currency. Allow separate companies to operate using different base currencies while enabling consolidated reporting across the organization.
Important Features of Currency Management
Process International Payments
Process international payments in the relevant document currency. Enter foreign-currency amounts directly when paying vendor bills or recording customer payments, reducing manual conversion work and the risk of rounding discrepancies.
Revaluation of General Ledger 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.
Multiple Base Currencies
Allow different companies to conduct business and maintain their accounting records in their preferred base currencies. Consolidate reporting across those companies and currencies when a group-level financial view is required.
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 provisions. 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 gains and losses, revaluation gains and losses, and rounding gains and losses.
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 established 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.
Currency Management Software FAQ
What is Acumatica Currency Management?
Acumatica Currency Management is a multi-currency accounting solution within Acumatica Cloud ERP. It helps businesses process transactions in foreign currencies, manage exchange rates, calculate realized and unrealized currency gains and losses, revalue eligible General Ledger accounts, and report across companies that use different base currencies.
Who is Acumatica Currency Management for?
Acumatica Currency Management is designed for businesses that work with international customers or vendors, operate subsidiaries in different countries, maintain foreign-currency accounts, or consolidate financial results across multiple entities and currencies. It is especially useful for finance teams that want to reduce manual exchange-rate calculations and manage currency processes within their ERP system.
How does Acumatica Currency Management work?
Finance teams configure the currencies and exchange-rate types used by the business. Transactions such as invoices, bills, payments, and fund transfers can then be entered in the appropriate document currency. Acumatica applies the relevant exchange rate, maintains the value in the company’s base currency, and records currency gains or losses when rates change.
Can different companies use different base currencies in Acumatica?
Yes. Acumatica supports multiple base currencies, allowing separate companies to maintain their accounting records in the currency that best fits their operations. Financial results can then be translated and reported across companies and currencies for a consolidated view of the organiz
How does Acumatica handle currency gains, losses, and revaluation?
Acumatica calculates realized currency gains and losses when foreign-currency transactions are settled. It can also create adjustments for unrealized gains and losses on open transactions and revalue eligible foreign-currency General Ledger accounts based on updated exchange rates. The resulting adjustments can be posted to designated gain-and-loss accounts.
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