Multi-Currency

Accountants and controllers need multi-currency functionality when a business operates internationally, has foreign vendors or customers, or holds balances in foreign bank accounts. It allows for accurate tracking of transactions and recognition of unrealized gains or losses due to currency fluctuations, ensuring financial statements reflect the true economic picture.

• Intacct receives daily exchange rates from Oanda.com, calculated based on the average ask rate.
• The Intacct daily rate is fetched from Oanda approximately between 01:00-02:00 UTC each day.
• You can add currencies to a list of available transaction currencies after enabling multi-currency management.
• Transactions like invoices, bills, and expense reports can be recorded in selected currencies.

Prerequisites