Microsoft Dynamics Navision is capable of helping an organization manage multiple currencies which includes payables, receivables, general ledger reports, resource items, inventory items and bank accounts integrated with Cash Management granules. One of the most versatile Microsoft Business Solutions, NAV is indeed one hell of a solution as far as multiple currency management is concerned. A Microsoft Dynamics Implementation of NAV or perhaps a Microsoft Dynamics NAV Upgrade with respect to currency management helps: 1. Enter exchange rates and convert currency in full compliance 2. Perform currency conversion according to exchange rates stored and maintained in the exchange rate table 3. Define a currency in the exchange rate table and specify the format so that amounts are always shown in the correct format throughout the system 4. Enter exchange rates for a certain date or period in the exchange rate table
5. Calculate the exchange rate associated with the date of carrying out the transaction for each conversion of a currency amount 6. Use the exchange rate table to save historical exchange rates to monitor fluctuations over time 7. Do business in multiple currencies for whichever customer or vendor, in the sense that invoices can be issued in one currency and payment for that invoice can be accepted in a different currency 8. Handle dynamic currency conversion and ensure smooth and effective processing of exchange rate updates 9. Save details of transactions that include receivables and payables in both local and foreign currencies in order to make it possible to print reports for both in either currencies 10. Put the exchange rate adjustment option to fine-tune receivables and payables and post unrealized gains/losses to the general ledger Microsoft Dynamics Navision through these capabilities for Multiple Currency management shows why it indeed is one of the finest Microsoft Business Solutions ever. Companies dealing in multiple currencies will benefit immensely by getting a Microsoft Dynamics Implementation of NAV done or having a Microsoft Dynamics NAV Upgrade done in case they already happen to work on NAV.
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AuthorThe author blogs and expresses his views on Microsoft Dynamics Technologies. Being a consultant himself, he relies on his experience of having worked on them while articulating his opinions. To know more about microsoft dynamics visit @ http://www.dynamicssquare.com.au/ |