Software informational articles

Microsoft great plains multicurrency ? overview for implementation consultant - software


When you first think about multicurrency - you doubtless have in mind the revaluation question. Currency triangulation - which was the need when European currencies were fixed to Euro is not an issue any more.

1. Sales and Purchasing multicurrency - when you are selecting accounting container with multicurrency, you need first absorb if it has multicurrency on the Sales and Purchasing modules level, not just in GL. The challenge at the back of is like this. When you have sales in distant currency - you will doubtless get the payment later on when currency may potentially lose some value anti your functional currency (like US Dough or Euro - in spite of this in our days Money is very good contender to do so, but this is exterior of the scope). Then - even if you do have payments forthright in external currency - you doubtless don't plan to alter this currency to functional for repatriation, you in all probability keep it in the local bank and so your exotic money is branch of learning to fluctuation in association to functional currency

2. Unrealized and Realized Gains and Losses - gain or loss is unrealized when transaction is not yet complete (like payment is not established and not functional - but you would by now like to know if you have unrealized gain or loss). When transaction is advanced - then realized gain or loss might be in place - this is easily the change of what if you would get direct payment and got payment now.

3. Revaluation - this is when you come to a decision to recalculate your Sales, Purchasing transaction and post realized and unrealized gains or losses. As the answer you as a rule want GL transaction to be created

4. GL Multicurrency - is simplified version. You may have transactions entered completely in GL with exotic currency preferred - in this case it is area of interest for achievable revaluation.

5. Microsoft Great Plains Multicurrency - it is on the level of the next modules: GL, The books Receivable, The books Payable, Sales Order Processing, Buy Order Processing, Bank Reconciliation, Development Accounting. So it is full-featured multicurrency.

Happy implementing! if you want us to do the job - give us a call 1-630-961-5918 or 1-866-528-0577! help@albaspectrum. com

Andrew Karasev is Chief Equipment Bureaucrat in Alba Spectrum Technologies - USA countrywide Great Plains, Microsoft CRM customization company, allocation Chicago, California, Arizona, Texas, Florida, Georgia, New York, Australia, UK, Canada, Continental Europe, Russia and having locations in compound states and worldwide ( http://www. albaspectrum. com ), he is Microsoft Great Plains Licensed Master, Dexterity, SQL, C#. Net, Gemstone Hearsay and Microsoft CRM SDK developer.

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