Multi Currency

This is an advanced module which can be purchase individually or with other advanced modules to complement the MCA core accounting package.  It integrates fully with every relevant MCA module and is generally used in conjunction with our Multi Legislature module.

Mardak’s Multi Currency flexibility allows the user to define their own base currency.  Any number of alternate currencies can be created and there is no limit on the number of exchange rates which can be held against each currency.  Exchange rates can be maintained daily if required.

Mardak offers the ability to record supplier and subcontractor invoices in most decimalised currencies.  Multiple bank accounts are supported and payments can be made to suppliers in the currency in which they invoice.  VAT details are captured in the local currency of the prevailing Tax Regime, even if the original invoice is in a different currency.

The system calculates exchange rate differences and passes full currency analysis into the Nominal Ledger, for detailed management reporting. It calculates, holds and reports Home, Foreign and Second Base currencies in every line of every transaction.

It includes the following functionality:

• Unlimited currencies
• Unlimited rate types
• Exchange rates can be calculated daily
• Print reports in both base and source currencies
• Enter transactions in any currency
• Process payments or receipts in any currency
• Restate outstanding source currency balances and transactions as exchange rates fluctuate with comprehensive currency revaluation