Do business easily with international vendors and customers
Multicurrency Accounting Software capabilities allow you to develop and maintain productive relationships with international customers and vendors while handling transactions in any number of currencies. Exchange rates are continuously changing, but with Traverse Multicurrency Software you can easily manage your accounting procedures by defining as many currencies and rates as you need.
Multicurrecy Software Features
- Assign a currency to a customer or vendor to be used when they submit a payment, are invoiced, or are paid.
- View entire customer and vendor accounts in a foreign currency. You can view all Accounts Payable and Accounts Receivable accounts in your local currency as well as the currency in which the transaction was made.
- Define an unlimited number of currencies. Add or delete them anytime.
- Define relational exchange rates in the appropriate format for your location.
- Specify decimal placement for amounts and unit amounts.
- Set up periods for specified exchange rates.
- Track the date and time of the rate changes to assist with audits and to allow for post-transaction entry in an ever-changing currency market.
- Post and record unrealized gains and losses for sales and purchases.
- Set up and maintain particular exchange rates for daily transactions and for the adjustment of balance sheet accounts.
- Control the manner in which foreign currency amounts are rounded and posted to the database.