If you are doing your business internationally, you most probably know that your accounting system should be able to handle some extra complexities. There are a variety of different regulations to follow working with different countries, and inevitably you work with different currencies.
Now, if your accounting system has multi-currency features, the result is higher accuracy in calculations, staying up-to-date with the currency changes, and an extra coffee while you wait for it to cool down a bit and look out of the window, as now you have saved some time doing the currency-related tasks. You can have your invoices and bills in the intended currency through the same process that you issue invoices with your default currency. You also will be able to figure out your gains and loses automatically and revalue your transactions.
In its newest update, Smarty software added a multi-currency feature to its accounting section. With this feature, you will be able to:
- Enter foreign currency values for vouchers and invoices
- See the current exchange rates from HMRC
- Reconcile base currency reports with foreign currency invoice and bill
- Manage your international business with real time currency movement