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The Frontier Multi-Currency module is designed to provide the
flexibility to do business with customers and vendors in alternate
local currencies, maintaining centralized control of all financial
transactions with an established base currency for that company
or division.
Frontier Multi-Currency Supports:
- Transaction processing in local currencies based on
currency designations against customers, vendors and price files,
with automatic
conversion back to base currency
- Receivable and Payable transactions processed in vendor/customer
currency with foreign cash adjustment accounts established to
track conversions back
to base
currency
- Automatic tracking of unrealized gains and losses as
a result of currency fluctuations related to base currency conversions
- Multiple methods for determining the currency conversion
rate to be used for conversion back to base currency, including
standard, average and
spot rates
- Extensive audit file of currency conversion rates and
the associated changes to those rates
- The transition of an organization from an existing
base currency or multi-currency model to the Euro.
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