Microsoft Great Plains Multicurrency – Overview For Implementation Consultant
When you first think about multicurrency – you probably have in mind the revaluation question. Currency triangulation – which was the need when European currencies were fixed to Euro is not an issue any more.
1. Sales and Purchasing multicurrency – when you are selecting accounting package with multicurrency, you need first understand if it has multicurrency on the Sales and Purchasing modules level, not just in GL. The problem behind is like this. When you have sales in foreign currency – you will probably get the payment later on when currency may potentially lose some value against your functional currency (like US Dollar or Euro – however in our days Dollar is very good candidate to do so, but this is outside of the scope). Then – even if you do have payments upfront in foreign currency – you probably don't plan to convert this currency to functional for repatriation, you probably keep it in the local bank and so your foreign money is subject to fluctuation in comparison to functional currency
2. Unrealized and Realized Gains and Losses – gain or loss is unrealized when transaction is not yet settled (like payment is not received and not applied – but you would already like to know if you have unrealized gain or loss). When transaction is settled – then realized gain or loss might be in place – this is simply the difference of what if you would get immediate payment and got payment now.
3. Revaluation – this is when you decide to recalculate your Sales, Purchasing transaction and post realized and unrealized gains or losses. As the result you usually want GL transaction to be created
4. GL Multicurrency – is simplified version. You may have transactions entered directly in GL with foreign currency selected – in this case it is subject for possible revaluation.
5. Microsoft Great Plains Multicurrency – it is on the level of the following modules: GL, Accounts Receivable, Accounts Payable, Sales Order Processing, Purchase Order Processing, Bank Reconciliation, Project Accounting. So it is full-featured multicurrency.
Happy implementing! if you want us to do the job - give us a call 1-630-961-5918 or 1-866-528-0577! help@albaspectrum.com
Andrew Karasev is Chief Technology Officer in Alba Spectrum Technologies – USA nationwide Great Plains, Microsoft CRM customization company, serving Chicago, California, Arizona, Texas, Florida, Georgia, New York, Australia, UK, Canada, Continental Europe, Russia and having locations in multiple states and internationally ( http://www.albaspectrum.com ), he is Microsoft Great Plains Certified Master, Dexterity, SQL, C#.Net, Crystal Reports and Microsoft CRM SDK developer.
Related Articles:
Clarity Benefit Consulting Announces Gable and Pannell Join Firm As Principals
Clarity Benefit Consulting, (www.claritybc.com), a national leader in employee benefit consulting, is pleased to announce the addition of Paul Gable and Adam Pannell as principals.
Mom Corps Partners with GH Consulting to Provide Expert Coaching for On-Ramping Moms
Mom Corps - the experts in the flexible staffing market that provide job opportunities for experienced professionals who require flexibility - with partner, GH Consulting, has introduced "Expert Coaching," a new professional development tool for on-ramping moms.
Content Management At Warp Speed
The new version of Bitrix Site Manager 5.1 is here with a 40% increase in operating speed, globally tested and verified and optimized. Bitrix Site Manager is the flagship product of Bitrix, Inc., the leading developer of Content Management Software for managing web projects and is used widely around the world with client websites including Harper?s Bazaar and Cosmopolitan.
Intelestream Consulting Pairs Google Maps Technology with SugarCRM Products
Intelestream, Inc. today announced the release of SugarMaps, a plug-in that fully integrates the Sugar Suite line of CRM applications with Google Maps technology. The plug-in provides a module where maps and place marks are displayed according to a wide range of user determined criteria.
Regenerative Medicine Appoints Cell Therapy Group Consultant to Editorial Board
Cell therapy industry consultant Lee Buckler appointed to Regenerative Medicine editorial board.
Healthcare Management, Consulting Leader QHR Names Rick Drake Senior Vice President of Business Development
QHR, the nation's largest healthcare management company and one of the leading healthcare management consulting firms in the United States, has added a dynamic new sales leader to its Business Development team. Rick Drake, with more than 30 years' experience and expertise in this area, joined the company as senior vice president of Business Development in July.
Concept Group USA Launches New Blog, New Service Website, and Adds To Hospitality Consulting Team
Leading brand and operational consulting firm continues to add resources for restaurant operators, suppliers and organizations.
Document management : A dream of paperless office
What is document management: When we think about "Document Management" we usually see a picture of paperless office. It is not an easy task to make an office paperless due to several existing problems based on Industrial needs.
UAL Consulting, LLC Announces New Client, Preuss Animal House.
UAL Consulting, LLC a mid-Michigan based business strategy consulting firm, today announced a new client relationship with Preuss Animal House in Haslett, Michigan.
Hiring The Perfect SEO Consultant For Your Home Business Website
Search engine optimization is the buzz word without which there is truly no way to do business and make money. In the past there might have been the stories of the home business website that found visitors the old fashioned way (by trading links) but in modern times this is a blast of the past and to become and remain competitive in a global market, any home business must strive to be at the top of the search engine listings. The question is: what is the best way to go about this?