Home Accounting
The home currency is the legal currency of the country in which the company is established. Tax reporting must usually be done in the local home currency.
Microtech Cloud enables you to manage your ledgers in parallel currencies. Useful if your organization is multi-national and need financial statements in your home currency.
You can also perform a foreign currency valuation in parallel currencies.
Transaction figures for the General Ledger accounts are also updated in the parallel currencies.
Amounts are translated automatically during posting, and amounts are also saved in parallel currencies.
In an independent currency system, regardless of the different local currencies of different local companies, their financial statements are consolidated in the home currency.
