Multicurrency Module
The Multicurrency module allows you to process transactions in any number of currencies while fully complying with FAS 52 regulations within a true nonprofit accounting environment.
Multicurrency Functionality in a true Nonprofit Environment
- Meet multicurrency compliance regulations — Automated settlements of open invoices generate FAS 52 compliant transactions within the system's already easy-to-use transaction entry process.
- Tight integration, easy configuration and implementation — A complete multicurrency solution within an award-winning true fund accounting solution.
- Create and process transactions in any number of currencies — Maintain an unlimited number of active currencies, rates, and rate types
- Convenient revaluing capabilities — Revalue Cash, AP and AR as often as needed
- Save money — Take advantage of favorable exchange rates by paying invoices in an alternate currency.
- Centralize your banking — The Multicurrency module provides the ability to deposit foreign currency checks in a Functional Currency bank account.
- Flexible, powerful reporting — Easily report on recognized gains and losses within the easy to use award winning report writer. Include all currency information by transaction within a single report for complete audit history.
- Demonstrate accountability — Produce financial reports in any active currency for interested recipients.
Fully Integrated With Other Sage MIP Fund Accounting Modules
- Integrated with Purchase Order item code information to allow foreign currencies to be associated with unit price for ordering purposes.
- Tightly integrated with Accounts Payable and Accounts Receivable to allow for transactions with vendors and customers that operate in foreign currencies.
- Track exchange rate differences from your banking institution with Bank Reconciliation.
- Customize and create currency specific custom layouts for your Accounts Payable Checks, Purchase Orders or Customer Invoices with the Forms Designer.