Where there is a requirement to raise invoices in more than one currency and account for receipts in more than one currency, the Multi-Currency module can be used to automate this process and facilitate both accounting and reporting.
Multi-Currency enables invoices for both chargeable time and disbursements to be raised in any currency, set usually at client or job level.
The module handles, in particular, accounting for exchange differences based on a set of business rules determined by the firm. Currency values can be based on average periodic or spot rates. An optional WIP re-valuation feature enables WIP to be re-stated in the currency selected for billing.
An unlimited number of receivables ledgers can be created to support as many currencies as needed.
