Multi-currency

The optional Multi-Currency component of the HarrisData financial system adds basic currency conversion functionality to the HarrisData Financials solution. This component assists organizations in processing information from vendors and customers using non-domestic currencies.

Currency Conversion Database

• From currency
• To currency
• Rate Type
• Effective Date
• Rate of Exchange
  • Historical, Average, or Spot Rates

Conversion Flexibility

• Convert all financials between currencies
• Convert budget figures between currencies
• Convert journal entries between currencies
• Revalue foreign-currency transactions entered in General Ledger, Accounts Payable, and Accounts Receivable

Easy Management of Gain/Loss

• Flexible mapping to General Ledger account numbers
• Enter invoices in foreign currency
• Revalue outstanding invoices at period end
• Automatically calculate unrealized gains and losses
• Automatically calculate realized gains and losses at time of payment
• Automatically create reversing journal entry for unrealized gains and losses
• Review and analyze activity by customer or vendor in domestic or foreign currency
• Full History maintained