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Can I use an ERP system to manage a global enterprise - Currencies

Can I use an ERP system to manage a global enterprise - Currencies

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Can I use an ERP system to manage a global enterprise - Currencies

Dec 1, 2015

Aptean Staff Writer

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.

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