SunSystems’ Exceptional Multi-Currency Functionality
SunSystems is regularly used by organisations with complex multi-currency requirements. Often this will be organisations that trade or operate globally as well as financial services organisations with a heavy exposure to currency changes.
SunSystems provides organisations with the ability to transact in any currency, with support for daily rates, spot rates and period rates. With support for 5 additional currency values per transaction, SunSystems meets even the most complex of multi-currency requirements.
Customers operating internationally will typically make use of three SunSystems currency values:
- The transaction currency e.g. you sold a service billed in Euros
- The local base currency e.g. for a UK entity, this would be British Pounds
- The group base currency e.g. your US-based parent company requires your figures in US Dollars for consolidating group figures
The above functionality provides organisations with a complete view of their currency exposure as all three values are held at the point of entry and reportable immediately.
This makes consolidated reporting simple as in the above example if the US entity wanted to run a consolidated report in US Dollars, there is no restating or translation of currencies, it is as straight forward as adding the UK entity’s USD reporting values into the group reports.
SunSystems also supports extensive revaluation of currencies and can automatically post the net or separate currency gains and losses as part of the ledger revaluation routines available.
How Can We Help?
Why not download our SunSystems Information Pack or book a demo.