Tencia allows for centralised cash related transactions, for currencies in addition to the local currency.
- Nominate a default foreign currency code for individual debtors and creditors.
- The foreign currency rate can be maintained daily or at a frequency that suits your individual requirements.
- Override the default foreign currency rate, during a transaction by entering a transaction “currency rate”.
- Reports such as the debtors and creditors trial balance reports can be printed using either the “default rate” or “transaction rate”.
- Optionally when printing debtors statements or creditors remittance a currency code can be selected.
- Inquiries can be performed to display local currency values and foreign currency values.
- Foreign Currency transactions are entered in the nominated currency of the bank account e.g. US dollars.
- Automatic calculation of local currency amount based upon conversion rates entered during data entry.
- Ability to revalue transactions allowing for unrealised and realised foreign exchange losses/gains to be generated.
- Automatically generate the necessary journals for revaluation of transactions.
- Print Cash Book reports such as the transaction list, in either local and/or the foreign currencies