Multi-currency reporting in Pastel added to MyBI

Technology and globalisation make it much easier to do business across borders. More and more of our clients import and export goods and services and must transact foreign currencies within their accounting system. Accounting for multi-currency transaction can be complicated and overwhelming.

We decided to see if we could help…and yes, we could!

MyBI together with Pastel Partner and Pastel Xpress is a great way to capture, report and manage multi-currency transactions. Now you can trend your foreign currency spend, analyse average exchange rates and manage your risk hedging against exchange rate losses.

Each transaction is captured with the original currency amount, as well as the South African Rand amount. These rand values are ultimately reflected within your MyBI balance sheet, income statement and cash flow statements.

I love to hear your success stories and challenges in the Pastel space. Do you have any?

A special thanks to @Barry Hundley for your involvement and insight to make this possible. Your knowledge of Pastel is unsurpassed. Keep up the great work.

#automation #managementaccounts #foreigncurrency #mybi #pastel #trend #analyse

@Alan Sutton