Good afternoon folks....
We are headquartered in the United States with multiple satellite warehouses operated by our sales representatives. We utilize the In-Transit process within ES to manage warehouse transfers from the main warehouse in Chicago to each of the satellite warehouses. Everything works great.
We also have two satellite warehouses in Canada. At the present time, we have a completely separate database for the Canadian operations.....with the inventory stored in USD and the sales being reported in CAD. At month end, we manually revalue the sales based on the closing exchange rate. A manual journal entry is used to transfer G/L values from the Canada database over to the US database.
I am trying to convince our accounting guy that having everything in one database would save us a ton of time...no need for any of the manual stuff we are currently doing. No duplicate data entry when new parts are created, not to mention that warehouse transfers are a complete pain in the arse....have to issue out of one database and receive into another.
Anyone out there using multi-currencies with ES, v9.5.200? What I'm confused about is how often we would need to update the exchange rates, do we need to do revaluations, etc....and what the overall process would need to be?
Anyone care to share some tips/tricks with currency manager?
Thanks
Jen
We are headquartered in the United States with multiple satellite warehouses operated by our sales representatives. We utilize the In-Transit process within ES to manage warehouse transfers from the main warehouse in Chicago to each of the satellite warehouses. Everything works great.
We also have two satellite warehouses in Canada. At the present time, we have a completely separate database for the Canadian operations.....with the inventory stored in USD and the sales being reported in CAD. At month end, we manually revalue the sales based on the closing exchange rate. A manual journal entry is used to transfer G/L values from the Canada database over to the US database.
I am trying to convince our accounting guy that having everything in one database would save us a ton of time...no need for any of the manual stuff we are currently doing. No duplicate data entry when new parts are created, not to mention that warehouse transfers are a complete pain in the arse....have to issue out of one database and receive into another.
Anyone out there using multi-currencies with ES, v9.5.200? What I'm confused about is how often we would need to update the exchange rates, do we need to do revaluations, etc....and what the overall process would need to be?
Anyone care to share some tips/tricks with currency manager?
Thanks
Jen