The system has the ability to collect and convert any currency denomination used around the globe. With multi-country conversion, the system can collect an invoice from an originating country, process the payment in a second country, and convert again to record the expense in a third country at the corporate headquarters.
Multi-Currency Country Support
The system supports currency conversion to all international locations including, Europe, Asia, Canada and Latin America.
Currency Code Maintenance
Each international currency is maintained in the system, with attributes that detail the information for each include:
Currency Code:
For Database and External Rate Update Information code Descriptions
Currency Description:
To Describe the Currency Code Rate in Length
Conversion Rate:
To Record Up to Date Conversion Rates
Update History:
To Record the last date the currency was updated
Localization:
To Associate the currency code with the location of origin
Common Currency Flag:
Provides the ability to set the entire system to that local currency
