M1 Multi-Currency simplifies your buying and selling functions when using foreign currencies. Exchange rates between your home currency and the foreign currency are easily managed using effectively dates. This ensures the you recognize exchange rate gains and losses accurately over time as rates change. This functionality is used with AR and AP invoices.
M1 supports an unlimited number for currency definitions to process sales and purchases with multinational business partners. Define any number of foreign currencies and their exchange rates relative to your home currency.
Currency mode button
Quickly toggle between home currency and foreign currency translations. M1 Multi-Currency utilizes the exchange rates currently in effect to immediately convert from your home currency to the foreign currency associated with your business partner.
- At each entry screen, you can verify the exchange rate in effect at that time
- M1 Multi-Currency presents you with information related to the foreign currency used on each record
- Advanced security administration provides the ability to override if necessary
Quotations and sales orders
- Produce quotes for your customers in their own currency
- Utilize integrated email and print functions to immediately send quote to the customer
- Convert these quotes into sales orders quickly and easily using Sales Order Wizard and eliminate all redundant data entry
- Create new orders, all in the foreign currency
- M1 standard systems reports will print quotes and order acknowledgements displaying the foreign currency
RFQs and purchase orders
Manage your international purchases by raising your purchase orders in the supplier’s home currency. Each supplier may have a default currency which can be overridden when generating the purchase order, along with the exchange rate.
- M1 seamlessly transfers data through the system from order placement through production to final shipment
- Create customer invoices quickly and easily using integrated AR Invoice Wizard and eliminate all redundant data entry
- Standard invoice reports will display amounts in either your home or foreign currency
- M1 transfers your purchasing details through the system as purchase order receipts are processed
- Create your vendor invoices quickly using our integrated AP Invoice Wizard and eliminate all redundant data entry
- Our standard reports will present information in either your home or foreign currencies
M1 Multi-Currency provides the tools and functions to manage your open receivables and payables as currency rates change. Reevaluate records on both sides of the balance sheet quickly and easily using Revaluation tools. Any gains or losses related to exchange rates will be tracked and recognized when appropriate.
All financial reports are displayed in your home currency, eliminating the need to manually recalculate values when determining profitability.