Multicurrency

Manage you currency risks more effectively

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FinancialForce Accounting is a fully-featured, multicurrency cloud accounting solution that allows you to invoice, receive and make payments in different currencies. You can then report on your figures in a variety of currencies, perform revaluations and manage your currency risk.

Multicurrency capabilities are truly pervasive throughout the system. The system supports the following types of currency values:

• Home currency
• Dual (corporate) currency
• Document currency
• Dimension or general ledger account currency
• Vendor currency
• Customer currency
• Bank account currency

This comprehensive approach to currency management facilitates faster consolidated reporting, more accurate gain/loss calculations, better cash forecasting and more incisive exposure and currency risk management.

Flexible Exchange Rates

You can manage conversions between the currencies in use in your company and the home currency, by editing their exchange rates. These are dated exchange rates that apply to all currency fields used in your FinancialForce company. Dated exchange rates are defined using a start date and an associated exchange rate. Each rate remains in effect either indefinitely or until the day before the next start date for that currency.

Highlights

• Multilevel currency values stored with transactions and balances
• Auditable exchange rate table
• Download currency feeds electronically
• Advanced currency exposure management
• View accounts in home, dual and account currency