Foreign currency transactions

Companies importing and exporting goods and services would typically make use of SYSPRO's Foreign Currency facilities as foreign currency transactions are created throughout the procurement and sales processes in SYSPRO, where the currency of the Customer or Supplier is different from the local currency of the Company. For General Ledger purposes the foreign currency transactions are automatically converted into the Company's local currency and optionally, into other foreign currencies based on either the current or a fixed exchange rate. Foreign currency transactions may be revalued in the Accounts Payable, Accounts Receivable, Cash Book and General Ledger modules when required.

The system provides full visibility of all foreign currency transactions, together with their local equivalent.