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Microsoft Great Plains is main Microsoft Business Solutions accounting package for the US market, where multicurrency issues are rare. However even US companies may have branches in foreign countries where they use Great Plains. Microsoft Great Plains is also in use in Spanish speaking Latin America (in Brazil both: Navision and Microsoft Great Plains are present), UK, Australia, Canada and South Africa. When you first think about multicurrency ? you probably have in mind the revaluation question. Currency triangulation ? which was the need when European currencies were fixed to Euro is not an issue any more.

1. Sales and Purchasing multicurrency ? when you are selecting accounting package with multicurrency, you need first understand if it has multicurrency on the Sales and Purchasing modules level, not just in GL. The problem behind is like this. When you have sales in foreign currency ? you will probably get the payment later on when currency may potentially lose some value against your functional currency (like US Dollar or Euro ? however in our days Dollar is very good candidate to do so, but this is outside of the scope). Then ? even if you do have payments upfront in foreign currency ? you probably don?t plan to convert this currency to functional for repatriation, you probably keep it in the local bank and so your foreign money is subject to fluctuation in comparison to functional currency

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2. Unrealized and Realized Gains and Losses ? gain or loss is unrealized when transaction is not yet settled (like payment is not received and not applied ? but you would already like to know if you have unrealized gain or loss). When transaction is settled ? then realized gain or loss