Home
>
Software
>
Microsoft Great Plains Multicurrency ? Overview For Implementation Consultant

Microsoft Great Plains Multicurrency ? Overview For Implementation Consultant

When you first think about multicurrency ? you probably have in mind the revaluation question. Currency triangulation ? which was the need when European currencies were fixed to Euro is not an issue any more.

1. Sales and Purchasing multicurrency ? when you are selecting accounting package with multicurrency, you need first understand if it has multicurrency on the Sales and Purchasing modules level, not just in GL. The problem behind is like this. When you have sales in foreign currency ? you will probably get the payment later on when currency may potentially lose some value against your functional currency (like US Dollar or Euro ? however in our days Dollar is very good candidate to do so, but this is outside of the scope). Then ? even if you do have payments upfront in foreign currency ? you probably don't plan to convert this currency to functional for repatriation, you probably keep it in the local bank and so your foreign money is subject to fluctuation in comparison to functional currency

2. Unrealized and Realized Gains and Losses ? gain or loss is unrealized when transaction is not yet settled (like payment is not received and not applied ? but you would already like to know if you have unrealized gain or loss). When transaction is settled ? then realized gain or loss might be in place ? this is simply the difference of what if you would get immediate payment and got payment now.

3. Revaluation ? this is when you decide to recalculate your Sales, Purchasing transaction and post realized and unrealized gains or losses. As the result you usually want GL transaction to be created

4. GL Multicurrency ? is simplified version. You may have transactions entered directly in GL with foreign currency selected ? in this case it is subject for possible revaluation.

5. Microsoft Great Plains Multicurrency ? it is on the level of the following modules: GL, Accounts Receivable, Accounts Payable, Sales Order Processing, Purchase Order Processing, Bank Reconciliation, Project Accounting. So it is full-featured multicurrency.

Happy implementing! if you want us to do the job - give us a call 1-630-961-5918 or 1-866-528-0577! help@albaspectrum.com

Andrew Karasev is Chief Technology Officer in Alba Spectrum Technologies ? USA nationwide Great Plains, Microsoft CRM customization company, serving Chicago, California, Arizona, Texas, Florida, Georgia, New York, Australia, UK, Canada, Continental Europe, Russia and having locations in multiple states and internationally ( http://www.albaspectrum.com ), he is Microsoft Great Plains Certified Master, Dexterity, SQL, C#.Net, Crystal Reports and Microsoft CRM SDK developer.

Batchtown Chicago prom limo .. Lockport Chicago limo O’Hare

In The News:

A virtual private network can help ensure your information remains security and your privacy remains intact. Kurt the CyberGuy explains.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Artificial intelligence-based cameras are giving air defense operators unprecedented capabilities in monitoring and protecting airspace.

Apple's iOS 18.1 Inactivity Reboot automatically reboots your iPhone if it hasn't been used or unlocked for more than three days, providing better data protection.

An inventor designed rooftop solar panels for a Tesla that draws solar energy while the car is parked, adding travel mileage without plugging in.

There are currently no laws governing what artificial intelligence can and cannot do with the information it gathers; here are 10 things to avoid telling AI chatbots to keep yourself safe.

A credit union with over 240,000 members recently revealed it was targeted by cybercriminals, resulting in a data breach that was part of a two-month attack by hackers.

Scammers have become skilled at creating convincing fake websites that can easily fool unsuspecting users. The CyberGuy offers tips to protect yourself.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

CAPTCHAs, which are used by websites to confirm whether users are people or bots, are harmless, but hackers are using them to infect PCs with malware.

Hackers recently leaked personal information of about 500,000 Americans and stole patient medical records that included lab results and insurance details.

The holiday season sees a rise in mobile shopping scams. Tech expert Kurt “CyberGuy" Knutsson helps you learn how to stay safe.

Tech expert Kurt “CyberGuy" Knutsson says a VPN enhances online banking security by encrypting data and protecting privacy.

Beware of these six sneaky holiday scams. Tech expert Kurt “CyberGuy" Knutsson gives you tips to avoid falling victim.

Tech expert Kurt “CyberGuy" Knutsson reveals how to securely back up and factory reset your Android to protect your privacy and data.

Artificial intelligence is making life easier for cybercriminals, allowing them to create elaborate scams to trick people. Kurt the Cyberguy explains how to protect yourself.

Cut through all the digital clutter and delete multiple emails from your Android simultaneously. Kurt the CyberGuy explains how it's done.

Tips to prevent your holiday decorations from being stolen

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Kurt "CyberGuy" Knutsson lays out the immediate steps you should take if your phone has been hacked and your personal information becomes vulnerable.

Fraudsters are sending people bogus invoices through PayPal as part of a sneaky scam that is going around; here's how to protect yourself from being fooled.

A former Colgate-Palmolive employee was shocked to discover $750,000 had been drained from her 401(k) account. "CyberGuy" offers tips on how to prevent identity theft.

Electric vehicle maker Harbinger recently showed its electric delivery truck can handle icy roads with agility and stability in winter.

To make the busiest time of year more manageable, here are some tricks for tracking your packages, taking quality family photos and curating the perfect Christmas playlist.

Kurt "CyberGuy" Knutsson explains how to keep your online Amazon gift purchases a secret from loved ones or friends this holiday season.

Microsoft Great Plains Multicurrency ? Overview For Implementation Consultant

Software