GL Multicurrency Consolidations

Want to Simplify foreign currency consolidations? Save time and improve accuracy with GLMCC.

GL Multicurrency Consolidations (GLMCC)  is a product designed to consolidate financial statements using U.S. generally accepted accounting principles (GAAP) into your reporting currency.

Benefits

• Works with any currency supported by Microsoft Dynamics GP (Great Plains)
  
• Eliminates the administrative nightmare of updating and maintaining the currency translation columns in FRx
• The General Ledger line item description contains the Type (P&L etc. and the translation rate applied)
• You can go back to any period in the past and see what the translation rate was at that time
• Extremely fast consolidations

What does it do?

A new company is set up for the purpose of holding the translated journal entries from the foreign currency company. For example, you may want to translate the Canadian Dollar into the US Dollars for consolidation into a US Dollar parent.

Who needs GL Multicurrency Consolidations?

You need GL Multicurrency Consolidations if you answer YES to any of the following questions:

Do you need to consolidate companies with different functional currencies?

• With GL Multicurrency Consolidations you will be able to consolidate your companies into your functional currency.

Do you need to consolidate according FAS52 (Financial Accounting Standards 52)?

• You will be able to consolidate your foreign companies using GL Multicurrency Consolidations.

Would you like to eliminate the need to do DAX currency translations in FRX?

• With GL Multicurrency there is no need to update the DAX conversion tables, simple 5 click consolidations at the end of each month.