|
|
ACCOUNTING
FOR FOREIGN CURRENCY TRANSACTIONS |
 |
The
international marketplace has never been stronger, and the Internet
is making that huge market more accessible to even the smallest
enterprises. Companies with Web sites suddenly find prospects from
halfway around the world can order their products as easily as a
customer down the street. Businesses that have never dealt with any
currency other than (for example)
U.S. dollar are
finding they must contend with pounds and rubles and yen and
euros, and for the first time they must consider the need for
accounting software that supports foreign currency
transactions and reporting. |
|
In order
to properly comply with foreign exchange recognition requirements
the following fundamental functions are necessary:
|
CURRENCY MANAGER
-
Enter,
process and report on business and accounting tasks in foreign
currencies
-
Automatically
perform foreign currency accounting and conversions to Home
currency - in real-time!
-
Deal
in an unlimited number of multicurrencies simultaneously
-
Create
sales receipts, invoices, credit memos, estimates, purchase
orders and sales orders in other currencies
-
Enter
and pay bills from foreign vendors
-
Automatically
calculate Forex gains/losses and process accounting entries - no
manual intervention required
-
System
automatically updates currencies at predetermined times
-
Activity
Log tracks changes made to exchange rates or currency details
-
Foreign
exchange movements and fluctuations are recorded in detailed
reports
|
|
|
|
|
|
|
|
|
Bizztec Online
