DOING BUSINESS IN A WORLD OF CURRENCIES

Do you have important customers or vendors abroad? Are you required to do business in
their native currency? Does the accounting and tracking of the related amounts and
gains/losses give you a headache?

Many businesses have trading partners (vendors or customers) in foreign countries.
Transactions with these partners may involve other monetary currencies, and the tracking
and reporting of these multi-currency transactions is a challenging task. That’s where
Currency Conversion comes in.

Currency Conversion provides supplemental features so you can record, track and report
multi-currency transactions involving international trading partners while maintaining your
local currency internal records. When you add this product to your system, you activate
currency related features in several different modules.

WITH CURRENCY CONVERSION, YOU CAN:

• Maintain a data base of monetary currencies used by your trading partners.
• Define the default currency used by each customer/vendor.
• Update the effective exchange rates for currencies as often as you wish.
• Record the currency amounts for selected transactions, including the effective exchange
   rate.
• Display transaction amount information in natural currency or base currency.
• Analyze unrealized currency exchange gains/losses.
• Revalue A/R and A/P open items for changes in exchange rates.
• Automatically calculate gain/loss on currency exchange when settling a transaction
   (typically at payment time).
• Update G/L for currency exchange gains/losses.
• Establish special stock item pricing and costing for each currency.

CURRENCY CODE DEFINITION

• Five-character code
• Description
• Print/display formatting including symbol, decimal, and negative sign
• Gain/Loss accounts for A/R and A/P

CURRENCY RATE INFO

• Effective Date/Time
• Enter either rate or factor
• Optional Note

ENTRY OF CURRENCY TRANSACTION INFO

• Default currency code per vendor/customer
• Specify currency per transaction
• Operator option to override currency defaults
• Effective date rate defaults can be configured per transaction type
• Use fixed (local currency value is constant) or variable (foreign currency is constant) rate per
   transaction
• Toggle display between natural currency and base currency

GAIN/LOSS CALCULATION

• Automatic calculation at transaction settlement time
• Option for periodic revaluation of A/R and A/P open items - choose to actually adjust open
   item value or just accrue gain/loss
• Option to settle an international transaction in dollars

STANDARD REPORTING AND INQUIRY

• Unrecognized gain/loss report
• History of gain/loss report
• File listings

OTHER INTEGRATION

• Currency amounts are available in Cash Flow reconciliation
• Related inquiries allow option to display natural or base amounts
• Optional special stock item pricing and vendor costing currency