Currency Management

Currency management isn’t just about automating calculations as you work in different currencies around the world. It’s also about minimizing your growing midmarket company’s financial risk when currency values change dramatically. With Acumatica, you can easily track your gains and losses and take steps to protect your financial health.

How Currency Management Can Work for You

Acumatica Currency Management helps you increase your volume of international business while staying in control of your finances. Advanced features let you support all your international subsidiaries, vendors, and customers.

With Acumatica, you can automatically compute realized and unrealized currency gains and losses, perform account revaluations, and translate complete financial statements. These powerful features are available throughout all Acumatica financial modules.

Key Benefits of Currency Management for Your Company

  • Calculate Realized Gains and Losses

    Automatically calculate realized gains and losses from foreign currency transactions including payments received and issued along with funds transfers between accounts.

  • Adjust Unrealized Gains and Losses

    Create adjusting entries for unrealized currency exchange gains and losses. Automatically prepare auto-reversing entries in the GL for all open documents recorded in foreign currencies.

  • Translate Financial Statements Automatically

    Manage subsidiaries operating in a foreign currency or prepare your financial statements in a foreign currency – translation of the trial balance follows FASB-52 standards. Automatically calculate translation gains and losses. Automate the consolidation of financial statements from multiple subsidiaries in combination with the GL module.

  • Transact in Multiple Base Currencies

    With multiple base currency support, separate companies can transact in their preferred base currency. Consolidated reporting is enabled across the different companies and currencies.

Important Features of Currency Management

Revaluation of General Ledger Accounts

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.

Unlimited Currencies and Rate Types

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.

Multiple Base Currencies

Support multiple base currencies and consolidate reporting across companies with different base currencies.

Configurable Decimal Precision

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.

Automatic Handling of Rounding Differences

Automatically compute rounding differences sensitive to desired decimal provisions. Rounding differences are automatically posted to a designated GL account.

Complete Tracking of Gains and Losses

Create detailed analytical reports of gains and losses. Assign accounts and subaccounts for each currency to track realized and unrealized gains and losses, translation gains and losses, revaluation gains and losses, and rounding gains and losses.

Currency Rate Lookup

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 established acceptable rate variance.

Historical and Auditing Reports

Predefined reports monitor the history of currency rates as well as translations and revaluations performed.

Audit Trail

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.

Predefined List of Currencies

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.

See what Acumatica customers are saying

"Acumatica provides all the fundamentals needed to run your business, so when you are ready to take the next step and expand or move into a new market, there are strong systems and processes in place to take that on. The integration with Tableau gives STI incredible visibility…the sky is the limit when we have all that information."
Kevin Boyle, Director of Information Technologies
Specified Technologies Incorporated
"I’ve always wanted to move the company to a web-based application, so I kept looking for alternatives until I found Acumatica. There was local support and that was a big part of our decision to evaluate the product."
J.N. Tan, Senior Manager, Finance and IT
KFC Singapore

Ready to put Acumatica to work for you?