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.
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.
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.
Automatically compute rounding differences sensitive to desired decimal prevision. Rounding differences are automatically posted to a designated GL account.
Create detailed analytical reports of gains and losses. Assign accounts and subaccounts for each currency to track realized and unrealized gains and losses, translation gain and loss, revaluation gain and loss, and rounding gain and loss.
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 acceptable rate variance.
Predefined reports monitor the history of currency rates as well as translations and revaluations performed.
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.
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.