As trade becomes more and more global, multi-currency features become important. Compiere transparently supports transactions across multiple currencies, including the following capabilities:
- Transact in other than your accounting currency
- Revalue transactions
- Maintain bank accounts in other than accounting currency
- Accurately report multi-currency transactions, including translation of transactions or balances for reporting purposes
- Ability to account transactions in parallel using different currencies
In other parts of the application, Compiere supports multi-currency functionality such as currency-specific price lists and preferred customer currency.
By design, a transaction in Compiere may have one or many accounting currencies. Starting, switching and discontinuing a currency is easy because all accounting currencies are on the same level. Compiere addresses currency precision requirements of different currencies and locales.