M1's Multicurrency Management

Exchange rates between your home currency and foreign currency are easily managed using effective dates. To ensure that you recognise exchange rate gains and losses accurately over time as rates change.

Currency entry

M1 supports an unlimited number of currency definitions to process sales and purchases with multinational business partners. Define any number of foreign currencies and see their exchange rates relative to your home currency.

Currency mode button

Quickly toggle between home currency and foreign currency translations. M1 Multicurrency utilises the exchange rates currently in effect to immediately convert from your home currency to the foreign currency associated with your business partner.

Currency information

• At each entry screen, you can verify the exchange rate in effect at that time
• M1 Multicurrency presents you with information related to the foreign currency used on each record
• Advanced security administration provides the ability to override if necessary

Quotations and sales orders

• Produce quotes for your customers in their currency
• Utilise integrated email and print functions to immediately send quotes to customers
• Convert quotes into sales orders quickly and easily using Sales Order Wizard to eliminate all redundant data entry
• Create new orders, all in foreign currency
• M1 standard reports will print quotes and order acknowledgements displaying the foreign currency

RFQs and purchase orders

Manage your international purchases by raising your purchase orders in the supplier’s home currency. Each supplier's default currency can be overridden when generating the purchase order, along with the exchange rate.

Reports

All financial reports are displayed in your home currency, eliminating the need to manually recalculate values when determining profitability.

Customer invoices

• M1 seamlessly transfers data through the system from order placement through production to final shipment
• Create customer invoices quickly and easily using integrated AR Invoice Wizard and eliminate all redundant data entry
• Standard invoice reports will display amounts in either your home or foreign currency

Supplier invoices

• M1 transfers your purchasing details through the system as purchase order receipts are processed
• Create your vendor invoices quickly using our integrated AP Invoice Wizard and eliminate all redundant data entry
• Our standard reports will present information in either your home or foreign currencies

Revaluation features

M1 Multicurrency provides the tools and functions to manage your open receivables and payables as currency rates change. Revaluate records on both sides of the balance sheet quickly and easily using re-evaluation tools. Any gains or losses related to exchange rates will be tracked and recognised when appropriate.