Currency Management in Acumatica Cloud ERP
Today’s business is a global business, whether they want to or not. The entire supply chain relies on multiple players both domestic and abroad, creating both a risk and an opportunity for the growing midmarket business. Whether you’re working to get the best exchange rate or looking to make life easier for your customers, currency management in Acumatica puts you in control of the money—no matter what it’s called.
Put into action by the experts at The Donas Group, Acumatica Financial Management can help you to automatically compute realized and unrealized gains and losses, perform account revaluations, and translate complete financial statements. Better yet, Currency Management is built to integrate, making life easier no matter what module you’re using.
Why Currency Management in Acumatica Makes Life Easier
Built to enable the aspiring international business to find and succeed in new markets, currency management in Acumatica makes it easy to minimize 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. Here are just some of the benefits of Acumatica:
- Gains and Losses under Control: Automatically calculate realized gains and losses from foreign currency transactions entered into any financial module. This can include receiving payments from customers, issuing payments to vendors, and transferring funds between accounts.
- Easily Adjusted Entries: Adjust for gains and losses with ease. Acumatica automatically prepares auto-reversing entries in General Ledger for all open documents recorded in foreign currencies.
- Financial Statement Translation Made Easy: Manage subsidiaries that operate in a foreign currency—or prepare your financial statements in a foreign currency. Automatically calculate translation gains and losses. Automate the consolidation of financial statements from multiple subsidiaries in combination with the General Ledger module.
- International Customers and Vendors, Well Served: Provide balances in a way that works for international customers and vendors. Acumatica makes it easy to maintain balances in a local currency and the base currency for each vendor and customer.
Watch our Acumatica demo to learn more.
Key Features of Acumatica Currency ManagementDesigned to help you save time operating internationally, Currency Management automatically computes realized and unrealized gains and losses, performs account revaluations, and translates financial statements. Here are just some of the features that make this happen:
General Ledger Revaluation
Revalue General Ledger accounts denominated in a foreign currency. Adjust the value of the base currency and post the appropriate currency gain or loss transaction.
Hundreds of Supported Currencies
Operate the way that your customers, vendors, and subsidiaries need. Currency Management supports an unlimited number of currencies and rate types. You can update exchange rates any time.
Currency Rate Lookup
Easy Currency Selection
Acumatica has made our financial systems much more efficient. It provides us one integrated system with accurate sales and revenue information providing detailed financial reports that will allow us to accelerate our growth.
– Christy Lin, Operation Director of Antenova Limited
Get to Know Acumatica Financial Management and The Donas Group
Built to integrate with a variety of applications—whether they are made by Acumatica or a third-party vendor—Acumatica’s financial management functionality delivers a strong backbone for your business. As a leading provider of this usable and functional application, The Donas Group can help you make the most of your journey to the cloud. Get to know more about our work and contact us for a free consultation.