Chapter 52 Currencies
This feature is part of the Multi-Currency Add-On, which is an additional module for Big Business that supports transactions in foreign currencies.
This Solution provides an introduction to the Multi-Currency Add On. (5931)
The Multi-Currency Add-On tracks purchases and payables in foreign currencies. If this module is well-received it will likely be extended to cover other foreign currency operations. It employs a dual-account approach, creating foreign currency accounts with matching exchange accounts, which combined, represent the full value of the account in native currency financials. Costs for items purchased are tracked in foreign currency and automatically received into inventory in native currency. Payments are posted to native currency accounts using current exchange rates and automatically posting gain or loss due to currency fluctuation. The foreign cost of items purchased can be saved for automatic insertion on new purchases.
You are welcome to test this functionality with your real data. As with most entries in Big Business, you can delete any entries created, in reverse order, and disable the feature if it does not meet your needs. Alternatively, you can test this fuctionality in a Demo File by following the instructions for Registering. This function is not enabled by default as it is outside the needs of most users.
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