Autocount Module :
Multi-Currency
Better to deal with international transactions, automate currency exchange
Introduction Of AutoCount Multi-Currency Module :
Handling transactions in different currencies from around the world can be take a lot of time. But AutoCount Multi-Currency module is here to make it easier for businesses. It comes with helpful tools like automatic money conversion, keep track of gains and losses, making sure currency rates are correct, and make it simple to manage cash . This means businesses can easily deal with transactions using lots of different currencies. Plus, there’s an even more advanced module called the AutoCount Advanced Multi-Currency Module available with this module.
How to Use ?
Tutorial Video
Tutorials
14:47
13:13
Let's explore the key benefits, features, and usage of the AutoCount Multi-Currency module.
Streamlined Multi-Currency Transactions:
This module helps businesses smoothly carry out transactions in many currencies. It no need to do the change currencies by hand, which also lowers the chance of making mistakes.
Automated Gain/Loss Calculation:
It does the math for gain or loss entries by looking at the differences in currency rates. Then, it puts these entries in the journal and general ledger to make sure the reports are correct.
Accurate Currency Rate Maintenance:
Keep the right currency rates for different currencies in the system. This make sure that calculations are correct and exchange rates stay the same for international transactions.
Separation of Accounts by Currency:
Keep separate accounts for the people or companies you owe money to and the ones who owe you money, all organized by currency. This way, you can keep track of transactions and the amounts owed for each currency.
Projected Gain/Loss Visibility:
See what you might gain or lose when you enter a transaction. This helps businesses predict how it might affect their finances and make smart choices.
Efficient Financial Reporting:
Create detailed reports sorted by currency. These reports give you information about how each currency is performing financially, the specifics of transactions, and changes in exchange rates.
Simplified Cash Management:
You can log payments and transactions in foreign money, and the system will make the right entries for gain or loss due to exchange rates. This makes handling cash easier and guarantees that international operations are accounted for correctly.
Seamless Integration:
This module easily fits together with other AutoCount modules. This means businesses can do international transactions using the system they already have.
Industry that suitable to use this module
Taking SMEs to the Next Level of Business Excellence
AutoCount System have offers more than 50 modules and 100 plugins to pick from for small and medium-sized businesses. These tools help businesses grow faster, and you have many options to choose from. When you choose AutoCount, you can make your business better with tools for things like accounting, managing inventory , sales, and more. You can trust AutoCount to have what you need to make your business work well.
Why Would a Company Use the Multi-Currency Module?
- International Trade:
If your business buys from or sells to other countries, this module simplifies the process by handling different currencies automatically. - Cost Efficiency:
Saves money on currency conversion fees by allowing you to hold and manage funds in various currencies. - Accurate Financial Tracking:
Ensures that all your transactions are recorded correctly, reflecting the true value in your home currency. - Improved Cash Flow Management:
Helps manage cash flow by providing a clear picture of your financial situation in different currencies, reducing delays and improving payment processes. - Better Business Relationships:
Makes it easier to pay international suppliers in their local currency and allows customers to pay in their preferred currency, enhancing business relationships.
How AutoCount Multi-Currency Module Works:
Maintain Foreign Currencies:
Add and manage foreign currencies in the system. This includes details like currency codes, symbols, names, exchange rates, and how to calculate gains or losses in accounts.
Debtor/Creditor Management:
Keep separate accounts for what you owe and what’s owed to you in different currencies. This helps you to keep a close eye on transactions and how much is left or owed in each currency.
Debtor/Creditor Management:
Keep separate accounts for what you owe and what’s owed to you in different currencies. This helps you to keep a close eye on transactions and how much is left or owed in each currency.
Foreign Currency Invoicing:
Make invoices for sales in foreign money. Set the currency rates, and the system will figure out the total in your local currency based on the exchange rates. You can also see and print invoices in the foreign currencies they’re in.
Accounts Receivable in Foreign Currency:
When you get invoices in foreign currencies that are owed to you, you can record them in the system. You choose the currency rates, and the system puts the money into your sales accounts. If needed, you can change the total in your local currency.
Accounts Receivable in Foreign Currency:
When you get invoices in foreign currencies that are owed to you, you can record them in the system. You choose the currency rates, and the system puts the money into your sales accounts. If needed, you can change the total in your local currency.
Payment Receipt in Foreign Currency:
When you get payments in foreign money, you can put them in the system and use them to pay off your invoices. The system will also figure out any extra money you made or lost because of exchange rate changes.
Foreign Currency Bank Transactions:
When you get payments in foreign money, you can put them straight into foreign currency bank accounts. The system will then create the right entries in the journal to track the cash transactions and any gain or loss from exchange rate differences.
Foreign Currency Bank Transactions:
When you get payments in foreign money, you can put them straight into foreign currency bank accounts. The system will then create the right entries in the journal to track the cash transactions and any gain or loss from exchange rate differences.
Cash Management:
If negative balances in your local currency happen due to exchange rate differences, you can fix them by recording cash transactions and letting the system make journal entries. This help to keep your cash in check.
Financial Reporting:
Make detailed reports that you can sort by currency. These reports will help you to know about how well you’re doing financially, any gains or losses due to exchange rates, and specific details about transactions in each currency.
Financial Reporting:
Make detailed reports that you can sort by currency. These reports will help you to know about how well you’re doing financially, any gains or losses due to exchange rates, and specific details about transactions in each currency.
Explore All AutoCount Module
Discover the Perfect Module for Your Business!
Explore All AutoCount Module
Discover the Perfect Module for Your Business!
Ideal for Business:
The AutoCount Multi-Currency Module is perfect for businesses involved in international trade. It’s especially useful for companies dealing with multiple currencies and needing accurate financial reporting.
Conclusion:
The AutoCount Multi-Currency Module simplifies international transactions by automating currency exchanges and ensuring accurate financial records. With its advanced features, businesses can easily manage multi-currency transactions, track gains and losses, maintain correct exchange rates, and handle cash efficiently. This module is a valuable tool for businesses looking to streamline their global operations and improve financial management. Give it a try to see how it can ease your cross-border accounting tasks.