Realising the benefits of foreign currency transactions
Our Financials module provides the tools to manage unrealised foreign currency.
Exchange rates are constantly fluctuating. In a global market place, exchange rate fluctuations can make foreign currency transactions a complicated process.
Unrealised foreign currency is the difference between a foreign currency amount at the time of an invoice to the amount at the time of payment.
This means that invoices involving foreign currency are often paid at an exchange rate different to the original. A variance in the exchange rate can have an impact on an organisation, especially for those involved in large trades and transactions.
Pulse Mining ERP Financials module provides clients with the capability to manage unrealised foreign currency. Organisations can use this feature to find their net position and possible liability to hedge as required.
The Financials module also provides the functionality to account for foreign currency fluctuations by creating reversible accrual journals for all Payables and Receivables unrealised foreign currency amounts.
This feature is only available in the latest Pulse Mining ERP version.