Is your company part of a global business community? If so, you will know about the problems and headaches that come from dealing with foreign currencies.
It’s vital that your accounting system knows how to convert from one currency to another. Foreign currency conversion applications allow you to keep your ledgers in the relevant local currency or even access the same financial information in the currency of your choice.
More importantly, you need to be able to generate purchase orders and invoices in the right currency for your vendors and customers.
Without the right software, it’s easy for currency conversion to become both time consuming and expensive. While most other programs allow you to buy in another currency, very few give you the option to sell. MYOB EXO Finance’s currency management software allows you to buy and sell products in any currency.
It’s as simple as specifying the rate at which you are buying an item – or the rate at which you are making a payment or receiving payment.
In addition, the EXO Finance program provides you with a currency gain/loss accounting on both realised and unrealised bases.
With the EXO Finance program you’ll be able to create top level reports, bill, and conduct financial analysis without the error, risk and time consuming process of manually calculating currency conversions.
With EXO Finance, transactions throughout the system are translated from currencies and exchange rates that you can define and update. You’ll also gain the flexibility to use different buy and sell rates, create selected reports to view in local or foreign currencies and set exchange rate warning periods to prevent using an old exchange rate.
Benefits of Foreign EXO Finance’s Currency Conversion software