Multi-Currency Accounting Software
JD1 Professional is a multi-currency accounting system. This facilitates buying and selling internationally. JD1 multi-currency accounting software allows you to trade in multiple currencies while your books remain in domestic currency.
The Open Payables report and Accounts Payable Invoices list allow currency selection, so you can see how much you owe in each currency. Similarly the Aged Trial Balance report and Accounts Receivable Invoices list show how much is owed to you. The multi-currency reports also show foreign currencies converted to domestic.
You set up at least one bank account for each of the currencies you deal in. The Bank Book shows transactions and balances for each account. Foreign currency accounts are converted to domestic by auto-reversing JV prior to printing financial statements.
The accounts payable software has an option to AutoCreate cheques for all invoices due for a selected currency. When printing cheques you select the appropriate bank account.
The general ledger shows revenue and expenses converted from foreign currency to domestic. Gain or loss due to exchange rate fluctuations is tracked automatically.
The default selling price is automatically converted to the customer's currency.
Foreign currency inventory purchases are converted to domestic currency when updating inventory costs.
The sales analysis reports and sales history screen show foreign currency sales converted to domestic currency using the exchange rates when the invoices were posted.
