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2014 User Group Meeting – Maumee Bay Lodge and Convention Center Presented by: John Underwood Brian Gribble.

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Presentation on theme: "2014 User Group Meeting – Maumee Bay Lodge and Convention Center Presented by: John Underwood Brian Gribble."— Presentation transcript:

1 2014 User Group Meeting – Maumee Bay Lodge and Convention Center Presented by: John Underwood Brian Gribble

2 Design scope guidelines A business environment has one base currency, all general ledger figures are stored in both base and transaction currency. Each non base currency has its own subset chart of accounts that will store that currencies general ledger detail. Consolidated financial statements are generated from the base currency chart of accounts. The currency you normally deal in with a given supplier or customer can be indicated on their master record. This currency will default for any new orders, but can be overwritten if desired. The system will keep a separate Accounts Payable and Accounts Receivable for any non-base currency transactions Freight or any additional charges on a transaction can be set-up in any currency desired. Multi-Currency capabilities overview

3 The currency exchange rate vs the base currency must be entered on either a daily or on an as often as desired basis. When calculating unrealized or realized currency gains and losses the system will use the rate entered for the specific day or if no rate was entered look to the last effective rate in the table. Exchange rates can either be entered manually or if you prefer to automate this function Brady provides a web service that can be customized to bring in currency market data. All non-base transactions must be associated with either a purchase order or sales order. All inventory values within a business environment are stored in the base currency. Purchases into inventory can be made in any desired currency. Multi-Currency capabilities overview

4 All inventory non base currency purchases must be on a purchase order. No non base currency payments can be made at the scale or thru the cashier system. These transactions must be paid via the Trade Payables system, the following day after the nightly update. A report that displays and calculates Unrealized and Realized gains and losses can be run at any time, and will be as of the last time the interim interfaces were run (usually the previous night’s job stream). This report offers three (3) levels of detail, summarized by currency, summarized by gains and loss types, accrued material purchases, freight material sales, payments cash receipts and by transaction. The final/actual posting of currency gains and losses to the general ledger happens at month end. For the unrealized gains and loss accruals an automatic reversal of these posting is provide after the month is closed. Multi-Currency capabilities overview

5 When entering transactions not on a purchase order at the scale, material codes for non-base currencies will not be selectable. If an operator manually enters one of these material codes an error message will appear preventing them from using these material codes. If a supplier’s master record is flagged to show prices at the scale and the scale is receiving a non-base currency transaction from this supplier, the transactional currency will be indicated next to the price on the operators entry screen. The printed certified weigh ticket will also indicate the transactional currency. For credit reporting purposes, all accrual and accounts receivable balances in the customer master table are converted and stored in base currency values. It is possible to turn the Multi-Currency functionality on in an existing live environment. Due to the many additional tables and coordination required, you must contact Brady support to assist with this process Multi-Currency capabilities overview

6 Multi-currency set- manual is now available

7 Multi-Currency capabilities overview Current status of development Transaction application development and testing complete for: Brokerage shipment processing Single material shipments Multi-material shipments Scale purchase transactions Single material shipments Multi-material shipments All freight transactions Trade and non trade payables transactions Cash receipts AP an AR trial balances Various registers and forms Affected data entry applications Unrealized and Realized Gains and Loss Reporting Month end automated GL realized gains and loss interface Month end auto reversal of unrealized GL posting

8 Multi-Currency Un-realized, Realized currency gains and loss reporting

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