Can I Use an ERP System to Manage a Global Enterprise - Currencies

Multi-Currency

As trade becomes more and more global, multi-currency features become important. Compiere transparently supports transactions across multiple currencies, including the following capabilities:

• Transact in other than your accounting currency

• Revalue transactions

• Maintain bank accounts in other than accounting currency

• Accurately report multi-currency transactions, including translation of transactions or balances for reporting purposes

• Ability to account transactions in parallel using different currencies

In other parts of the application, Compiere supports multi-currency functionality such as currency-specific price lists and preferred customer currency.

By design, a transaction in Compiere may have one or many accounting currencies. Starting, switching and discontinuing a currency is easy because all accounting currencies are on the same level. Compiere addresses currency precision requirements of different currencies and locales.