Sage MIP Fund Accounting

Fund Accounting: Select a module Accounts Payable Accounts Receivable Advanced Security Allocations Management Bank Reconciliation Budget Data Consolidation Data Import/Export Direct Deposit Electronic Funds Transfer Electronic Requisitions Encumbrances Fixed Assets Forms Designer GASB General Ledger Grant Administration Inventory Control Multicurrency Payroll Purchase Orders Sales Order Entry Scheduler Visual Analyzer

Multicurrency Module

The Multicurrency module allows you to process transactions in any number of currencies while fully complying with FAS 52 regulations within a true nonprofit accounting environment.

Multicurrency Functionality in a true Nonprofit Environment

• Meet multicurrency compliance regulations—Automated settlements of open invoices generate FAS 52 compliant transactions within the system’s already easy-to-use transaction entry process.
• Tight integration, easy configuration and implementation - a complete multicurrency solution within an award-winning true fund accounting solution.
• Create and process transactions in any number of currencies—Maintain an unlimited number of active currencies, rates, and rate types
• Convenient revaluing capabilities—Revalue Cash, AP and AR as often as needed
• Save money—Take advantage of favorable exchange rates by paying invoices in an alternate currency.
• Centralize your banking—The Multicurrency module provides the ability to deposit foreign currency checks in a Functional Currency bank account.
• Flexible, powerful reporting—Easily report on recognized gains and losses within the easy to use award winning report writer. Include all currency information by transaction within a single report for complete audit history.
• Demonstrate accountability—Produce financial reports in any active currency for interested recipients.

Fully Integrated With Other Sage MIP Fund Accounting Modules

• Integrated with Purchase Order item code information to allow foreign currencies to be associated with unit price for ordering purposes.
• Tightly integrated with Accounts Payable and Accounts Receivable to allow for transactions with vendors and customers that operate in foreign currencies.
• Track exchange rate differences from your banking institution with Bank Reconciliation.
• Customize and create currency specific custom layouts for your Accounts Payable Checks, Purchase Orders or Customer Invoices with the Forms Designer.

 

E-mail this page to a friend