Microsoft Great Plains MC: Multicurrency Management – overview for consultant

by Vincent Ong

Alba Spectrum Technologies

1-866-528-0577, 1-630-961-5918 help@albaspectrum.com   

Microsoft Business Solutions Great Plains is marketed for mid-size companies as well as Navision (which has very good positions in Europe and emerging markets where it can be easily localized). 

Great Plains Multicurrency Management (MC) module allows for multinational operations and multicurrency operations. Procurement can be done in one currency while selling using another.

MC improves financial efficiency by making it easier for your employees to manage financial statistics and accounting operations while using multiple currencies and dealing with ever-changing exchange rates. MC also allows you to control the way you do business on a global scale with complete management over the way you manage multicurrency exchanges, as well as the ability to define as many currencies or rates as you need to do business.

Features:

• Exchange Rate Tracking – Track the date and time of exchange rates used in multicurrency transactions to facilitate audits and allow for after-the-fact transaction entry in a changing currency market.
• Standards Support – Manage multicurrency transactions to international standards for accounting and reporting, with adherence to FASB-52 and BASDA standards.
• Currency Rate Definition – Define an unlimited number of currencies and exchange rates per currency or set specific rates as needed for individual companies, contracts, or transactions.
• Customer-Specific Default – Set default currency rates for specific customers, vendors, or accounts for fast and error-free transactions. Select a different rate or enter a new rate during transaction entry to handle exceptions as they arise.
• Extensible Multicurrency Operations – Extend multicurrency capabilities as needed to Microsoft Business Solutions–Great Plains General Ledger, Intercompany, Receivables, Bank Reconciliation, Payables, Project Accounting, Sales Order, and Purchase Order modules.
• Realized Gains and Losses - Automatically track and record realized gains and losses for sales and purchases over the life of transactions due to the effect of currency changes.
• Multicurrency Reporting – Show multicurrency activity in financial reports or translate existing reports into multiple currencies to share information with associates around the world.
• Multicurrency Inquiry – Get instant access to the information you need, with multicurrency transactions showing both originating and functional currencies for financial inquiries.

Good luck with implementation, customization and integration and if you have issues or concerns – we are here to help!  If you want us to do the job - give us a call 1-630-961-5918 or 1-866-528-0577! help@albaspectrum.com

Vincent is a Great Plains specialist in Alba Spectrum Technologies ( http://www.albaspectrum.com  ) – USA nationwide Great Plains, Microsoft CRM customization company, serving clients in Chicago, Houston, Atlanta, Phoenix, New York, Los Angeles, San Francisco, San Diego, Miami, New Orleans, Toronto, Montreal and having locations in multiple states and internationally