Sunday, June 9, 2013

Introduction of Multiple Base Currencies in BlueBox

One of the strengths of BlueBox is it's multi-business-unit, mult-location, multi-tax, multi-currency nature. This powerful matrix makes allows us to create extremely flexible, scalable business structures on one database.

One of the historical issues or limitations has been that the currencies table has been a global feature, limiting the entire system for a certain groups of companies to a single base currency. This has now been improved to allow the setting of base/currency values at each BU/Location level. Essentially, this means that you can have a different currency table for each business/country of operation.

This has one key limitation. That is the fact that there is no 'super base' currency sitting at 'group/global' level. Any financial reporting higher than any 'currency point' in the BU/Location matrix will be useless, as it will combine base numeric values that span multiple base-currencies, thereby blurring the various values together and making the totals useless.

This should not detract from the newly found capacity that BlueBox has to allow regions to transact in any number of currencies, and now, to be able to store their base-transactions in the currency of their choice.

For older systems, the currency table will continue to operate as before (essentially at global/global level). But for new installs, there is now this option to set the currency table at various BU/Locations under global, as long as no currency table then exists above these points.


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