Currency Manager

With the rapid growth of global opportunities, Progression’s Currency Manager (C/M) can provide your business with the ability to easily do business in multiple currencies.

Fully Integrated

Whether you are tracking purchases or sales, Progression's Currency Manager interfaces with the Progression General Ledger (G/L), Accounts Receivable (A/R), Accounts Payable (A/P), and and Bank Book (B/B) packages to provide you with the exchange rate information you need to keep you on top of your international operations.

Unlimited Currency Codes

A currency Code is a 3-character code that signifies which currency code is being used. With Progression's C/M module you can have an unlimited number of currency codes when processing your business transactions. When entering each currency code you also enter the gain/loss accounts for cash, A/R and A/P. Those accounts will then be used whenever a transaction is entered for that particular currency code.

Flexible Transactions

Progression’s C/M is a flexible and robust solution to processing transactions internationally with complete accuracy. The transactions recorded in Accounts Receivable (A/R) and Accounts Payable (A/P) will be recorded in their native currency, i.e. the currency of the country in which the vendor or customer is located. When those transactions are posted to G/L, they are converted into your home currency, i.e. the currency of your corporate headquarters, or in other words, the currency in which you produce your financial statements. Progression’s C/M performs that calculation for you and maintains the appropriate gain/loss accounts for each currency code.

Managing Exchange Rates

Currency Rates allow you to specify the rate and the effectivity date for each currency code on file. This exchange rate, the Native to Home rate, is the value Progressio’s C/M will use when converting transactions from native currency to your home currency. You then have the ability to impact your gain/loss accounts by running revaluation for those modules. Progression’s C/M will also maintain a history of your revaluation to help you determine whether price changes in various currencies are needed based upon their gains and losses. Progression’s C/M also stores pricing and costing information in foreign currencies so that you can accurately share that information at order entry and purchase order time.