Currency
Per customer.
Trade feature
Several currencies, one clear picture
Customers in Qatar commonly identify themselves with a QID, so forms and records leave room for it. In foreign trade the quote may be in one currency and payment arrive in another, and exchange differences affect profit. The system keeps prices and invoices in currencies such as QAR, EUR and USD, records the rate at document date, calculates the exchange difference at payment date and shows the QAR equivalent.
- English and community languages
- payment link and QAR
- Roles and audit log
Currency and rate
A default currency is defined for each customer and supplier; quote, order and invoice are issued in it. Rates are entered by hand or imported from a file, recorded on each document and the QAR equivalent is shown next to it.
A connection to a live rate source is assessed separately.
Exchange difference and reporting
When payment arrives the invoice rate and the payment rate are compared and the exchange difference is shown on a separate line. Open receivables and sales are reported per currency; exchange-difference items are separated for the transfer to accounting.
Exchange-rate policy and accounting treatment belong to the company and its specialist.
Your benefits
How we work
- 1
Clarify the need
By e-mail we discuss your processes, roles, existing systems and how data is moved, and set the scope in writing.
- 2
Build and connect
We build the solution around your workflow and connect it to e-mail, calendar, documents and payment.
- 3
Test and launch
We test every flow with realistic cases, train your team and go live only when it is right.
Qatari-specific points
In Qatar the base currency is QAR, but a large part of purchasing and sales is in EUR. The system supports QAR as base currency with several foreign currencies; managing exchange-rate risk is the responsibility of the company and its specialist, the software gives no financial advice.
Frequently asked questions
Which currencies are supported?
QAR, EUR, USD and any other currency your business needs can be defined.
Are rates updated automatically?
They are updated by hand or from a file; connecting an automatic rate source is assessed separately.
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