Foreign Currency transactions are entered in the nominated currency of the bank account e.g. : US dollars.
Automatic generation of the necessary journals for revaluation transactions.
Each debtor and creditor may have nominated a default foreign currency code.
Reports such as the debtors and creditors trial balance reports can be printed using either the “default rate” or “transaction rate”.
Optionally when printing debtors statements or creditors remittance a currency code can be selected.
Automatic calculation of local currency amount based upon conversion rates entered during data entry.
To provide flexibility default foreign currency rate maybe maintained daily or at a frequency that suits your individual requirements.
Ability to revalue transactions allowing for unrealised and realised foreign exchange losses/gains to be generated.
Cash Book reports such as the transaction list, can be printed in either local and/or the foreign currency.
The Arrow Foreign Currency option, provides the ability to enter purchase orders, creditors invoices, sales orders, debtor invoices and credit notes in a foreign currency.
In addition to this default currency rate, during transaction entry, this currency rate maybe overridden providing a transaction “currency rate”.
On-screen inquiries display the Australian dollar value and foreign currency value.
This foreign currency functionality is further enhanced Via the Cash Book module, which allows for centralised Cash related transaction, for currencies in addition to the local currency.