| 1. |
Revamped “Forex Cash/Bank Books” with Auto Posting of “Realised Forex Gain/Loss” (Enhanced) |
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Bid Adios to manual calculation of Realised Forex Gain/Loss for Forex Cash/Bank Books every year. For all Forex Cash/Bank Books, FACT ERP.NG now calculates and posts “Realised Forex Gain/Loss” automatically now. |
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Enjoy the following amazing benefits
- Enter any of the following transactions for Forex Cash/Bank Account
- GL Payment/Receipt (Cash/Bank Payment/Receipt)
- Contra Voucher (transfers from Cash to Bank, Bank to Cash or Bank to Bank)
- Customer Receipt/Payment
- Vendor Payment/Receipt
- If the Exchange Rate entered in the transaction is different from the Running Exchange Rate (Weighted Average), Forex Gain/Loss will be calculated and posted automatically to the GL Code which has been mapped for Auto Posting of Realised Forex Gain/Loss in System Controls
- If there is a positive balance and you make a deposit (there is no Gain/Loss) and the Weighted Average is automatically calculated. The same thing happens if you a have an overdraft in the account and you make a payment
- Total Visibility: New “JV” Button in the above transactions will display the Auto Calculated Realised Gain/Loss Amount in pink colour and show the posting of all the amounts / print option also added
- “Currency Exposure – Banks” Report:Generate to get a 360 degree view of Opening Balance, Payments, Receipts and Closing Balance of every Forex Cash/Bank Book
- Colour Coded transactions provides much greater readability
- Drill Down from every transaction to view full details
- Hand over this report to your auditor and save time at audit / no more questions
- View Closing Balance and the potential Unrealised Forex Gain/Loss Amount
- Click on “Notes” buttons for detailed explanations
- Hover the mouse over any transaction to see the calculation basis instantly
- Manual “Cash/Bank Vouchers” entered for GL Code mapped against “Realised Forex Gain/Loss” via System Controls now appear highlighted for easier identification and deletion (where desired)
- “Unrealised Forex Gain/Loss Amounts” which have been Auto Posted from “Forex Bank Revaluation (Permanent), now appear in yellow highlight for great readability and identification
- Mistakenly entered Exchange Rate = 1.00 is displayed in red and draws your attention for quick correction
- View Closing Balance, Exchange Rate on Closing Date and the potential Unrealised Forex Gain/Loss Amount
- “Forex Bank Revaluation” has been totally revamped for great visibility and easy decision making
- System Controls/P&L and Cash Book has been revamped and displays full information about the GL Codes mapping for Forex Gain/Loss
- “Forex Cash/Bank Amounts” are now displayed in Purple Colour in transactions for easy identification and reduction of errors
- “Recalculate Balances” recomputes the Realised Forex Gain/Loss for Forex Cash/Bank Books without touching the transactions up to the last month end when “Forex Bank Revaluation” has been run
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Notes:
- Call our Implementation Specialists for detailed training on Forex Cash/Bank Accounts
- Exploit the full power of the features designed to reduce manual work to zero
- Get trained on Forex Bank Revaluation and the controls you get
- How to avoid generating Realised Gain/Loss for Forex Cash/Bank Books
- How to handle Forex Cash/Bank Books when running Year Ending
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| 2. |
Drill Down into “Forex Gain/Loss” General Ledgers enhances visibility (Enhanced) |
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Drill Down to transaction level for “Realised Forex Gain/Loss” and “Unrealised Forex Gain/Loss” GL Codes(mapped via System Controls) from
- Trial Balance
- Profit & Loss Account
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| 3. |
All Tiles – CXO Control Tower (Enhanced) |
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Right-Click on any “Grouped Field” to Collapse/Expand All and view Totals at “Collapsed Level”
- Example: Group on Customer Name and Right-Click to select “Collapse All
- Instantly view Amount Totals for each Customer and for all Customers
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