Search HansaManuals.com HansaManuals Home >> Standard ERP >> Multi-Currency Previous Next This text refers to program version 4.0 Introduction to Multi-Currency Hansa allows you to record any accounting transaction in foreign currency. A register of Currencies and their respective Exchange Rates for different dates is maintained. Each Supplier and/or Customer can be assigned a default Currency: the one in which they are usually to be invoiced or in which their Invoices are issued. When a Sales or Purchase Invoice is issued or received, Hansa will automatically convert the amount from the foreign to the home Currency, and will create all necessary accounting transactions. The accounts receivable or payable can be reported in either Currency.Two Currency conversion methods are provided. Either of these can be used exclusively, or they can be used in combination, depending on your requirements. The first method is the simple conversion from the foreign Currency to the home Currency, applicable to the majority of worldwide Currency transactions. The second method is the dual-base triangulation system, termed the "Dual-Base system" in these web pages. Users of this system fall into two categories:
"Transitional" users should use the Dual-Base system exclusively, in order to comply with European Monetary Union (EMU) rules, while "voluntary" users can be more flexible, using Dual-Base and simple conversion systems in combination as required. Companies outside the Euro zone but trading with it have the choice of using the simple conversion system or the Dual-Base system. This choice will depend on the volume of trade with the Euro zone and on whether they need the ability to produce all reports in both the home Currency and the Euro. Such a use of the Dual-Base system falls into the "voluntary" category described above. Similarly companies outside the Euro zone and trading with "transitional" countries can choose whether to use the simple conversion system or the Dual-Base system. Previous Next Top |