Multicurrency

Overview

You can choose to have the Multicurrency module enabled in your Beyond Software system, which exposes multicurrency functionality throughout the Beyond Client application. In addition to your company’s base currency (or companies’ base currencies, if you have more than one company), you can set up transaction currencies to assign to customers, vendors, and bank accounts.

The transaction currencies are entered and/or displayed for monetary values in related screens, other than General Ledger screens, throughout the system. For example, after you assign a transaction currency to a customer on the Customer screen, all values on the Customer Invoice and Adjustment screen for that customer will be in the customer’s assigned transaction currency.

When you use multiple currencies, you must set up exchange rate tables for the currency exchanges. Currency exchanges are typically expressed as base currency to transaction currency, such as U.S. Dollar to Euro or U.S. Dollar to Canadian Dollar. The calculation used in Beyond Software to determine accounting currency amounts is Base Currency Amount = Transaction Currency Amount / Exchange Rate. For more information, see Exchange Rate Tables.

Note: If the Multicurrency module is not enabled in your implementation, you will not see Currency fields or symbols on transaction screens in the application. However, base currency symbols are used with some monetary values on Beyond Software reports even if you do not have multicurrency enabled.

Also note: On General Ledger screens and reports, we always display base currency values, even if the transaction currency is different. For example, you can view a customer invoice using both the Customer Invoice and Adjustment screen and the Journal Entry screen. On the Customer Invoice and Adjustment screen, values are displayed in the transaction currency. On the Journal Entry screen, values are displayed in the base currency.

Setting Up Multicurrency

With the Multicurrency module enabled in your Beyond Software system, you can perform multicurrency setup in new or existing systems. This table describes setup requirements: