Costpoint Multicurrency gives your company the power and flexibility to integrate sophisticated international transactions into your financial records. For Accounts Payable transactions, you can maintain your company's books in one currency, receive invoices in another currency, and pay invoices in still another currency. For Billing transactions, you can maintain your company's books in one currency, submit invoices in another currency, and receive payment in still another currency.
Costpoint Multicurrency seamlessly integrates with the rest of Costpoint. Once you have selected a currency for use in Costpoint General Ledger, you will use Costpoint Multicurrency to define its relationship with other currencies. You can enter exchange rates and update them as frequently as necessary, even daily. Using these rates, Costpoint Multicurrency works with Costpoint Accounts Payable and Purchasing to calculate gains and losses on foreign currency transactions. Both realized gains (upon final payment of the voucher) and unrealized gains (when a voucher is unpaid or partially paid) are recorded in the General Ledger.
Costpoint Multicurrency, together with your Costpoint system, enables you to make intelligent decisions about your company's international transactions.