Billing in Foreign Currencies
This topic provides an overview of the foreign currency functionality in Costpoint.
It discusses:
- Specific billing capabilities
- Setup of a foreign currency invoice
- Processing and printing of foreign currency invoices
- Working with accounts receivable and cash receipts for invoices that were issued in a foreign currency
See the following topics for examples of the issues encountered when working with foreign currency invoices.
Related Topics:
Multicurrency features are available in the Costpoint General Ledger, Accounts Receivable, Accounts Payable, Purchasing, Billing, Inter-company Work Orders, Consolidations, Sales Order Entry, and Cash Management modules.
If you plan to use the multicurrency features of Costpoint, you must first establish a functional currency on the Configure General Ledger Settings screen. This is a system-wide selection.
Currency Codes and Exchange Rates
As the first step in Multicurrency processing, you must establish and format your currency codes in Costpoint Multicurrency.
Realized and Unrealized Gains and Losses
Costpoint calculates realized gains and losses when cash is received for the invoice or when the voucher is paid.
Multicurrency invoices can be calculated, printed, and posted for standard bills, customer product bills, project product bills, and milestone bills.
Once you receive the cash for an invoice, you must record it on the Manage Cash Receipts screen.