Macola ERP - Currency Manager

Whether you have international vendors, customers, or separate divisions based abroad, the Currency Manager module is a flexible and robust solution to meet your needs.

When those transactions are posted to the General Ledger, they are converted into your home currency (i.e that of your corporate headquarters, or in which you produce your financial statements).

Macola ES Currency Manager (C/M) also stores pricing and costing information in foreign currencies, so you can accurately share that information at the time of order entry and purchase order.

Business Benefits:

  • Fully Integrated: Whether you are tracking purchases or sales, Macola ES Currency Manager interfaces with the Macola ES General Ledger, Accounts Receivable, Accounts Payable, and Bank Book modules to provide you with the exchange rate information you need to keep on top of your international operations.
  • Unlimited Currency Codes: A Currency Code is a 3-character code that signifies which currency is being used. With Macola ES Currency Manager, 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, Accounts Receivable and Accounts Payable. Those accounts will then be used whenever a transaction is entered for that particular currency code.
  • Flexible Transactions: Macola ES Currency Manager is a flexible and robust solution to processing transactions internationally with complete accuracy. The transactions recorded in Accounts Receivable and Accounts Payable will be recorded in their native currency (i.e. the currency of the country in which the vendor or customer is located). Macola ES Currency Manager performs this calculation for you and maintains the appropriate gain/loss accounts for each currency code.
  • Managing Exchange Rates: This feature allows you to specify the rate and effective date for each currency code on file. This Native-to-Home exchange rate is the value that Macola ES Currency Manager will use when converting transactions from native currency to home currency. You then have the ability to impact your gain/loss accounts using revaluation processes for changing rates, maintaining a history of revaluations to determine price changes in various currencies.

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