Robust support for global and complex currency requirements

SunSystems is trusted by organisations with sophisticated multi-currency needs. This includes global businesses and financial services firms that require precise handling of currency fluctuations.

The solution enables transactions in any currency, with support for daily rates, spot rates, and period rates. SunSystems also allows up to five additional currency values per transaction, making it suitable for even the most complex financial environments.

Organisations operating internationally typically utilise three primary currency values within SunSystems:

• Transaction currency – for example, a service billed in Euros

• Local base currency – such as British Pounds for a UK-based entity

• Group base currency – such as US Dollars required by a US parent company for consolidation

All three values are captured at the point of entry, allowing for real-time visibility and reporting of currency exposure across the organisation.

This multi-currency capability simplifies consolidated reporting. Using the example above, if the US parent company needs to consolidate reports in US Dollars, the UK entity’s USD reporting values can be included directly. There is no need for additional currency translation or restatement.

SunSystems also includes powerful currency revaluation functionality. It can automatically calculate and post net or separate gains and losses as part of its ledger revaluation processes, ensuring accuracy and compliance with accounting standards.