MULTI-CURRENCY
Multi-currency quotation, multi-currency order and cost accounting, base-currency conversion and exchange-rate management in one system — orders, receipts and costs are recorded in different currencies and converted to the base currency, so exporters keep every currency's books clear.
WHAT IS MULTI-CURRENCY MANAGEMENT
Multi-currency management is the ability for an exporter to record and account for business in different currencies. Foreign trade deals often span USD, EUR and other currencies, and Wangbang BESI multi-currency management lets quotations, orders, receipts and costs all be recorded faithfully in their own original currency, then converted to a single base currency. So whatever currency a deal closes in, the system holds both the original-currency amount and the converted base-currency amount, and the books are clear at a glance.
When currencies are converted by hand in spreadsheets, exchange-rate bases drift and original vs. base amounts never line up — slow and error-prone. BESI multi-currency management brings multi-currency quotation, multi-currency order and cost accounting, base-currency conversion and exchange-rate management into one system, so every currency goes from recording to conversion in one place — laying a clear, consistent data foundation for the downstream foreign trade financial reconciliation.
CORE FEATURES
Multi-currency quotation, multi-currency accounting and base-currency conversion — every currency's books connected end to end.
For customers across different countries and regions, you can quote directly in the currency they use, paired with contract templates and online approval. Quotation amounts stay in the original currency with no repeated manual conversion, keeping the customer's basis and the company's accounting in sync.
Orders, receipts and costs can be recorded separately in different currencies, with original-currency amounts kept faithfully. Business is accounted for in the actual deal currency throughout, avoiding manual conversion errors so the revenue and cost of every multi-currency deal are clear.
Amounts in every currency are converted to a single base currency at the set exchange rate, with original-currency and base-currency amounts coexisting. With exchange-rate conversion, a company can reconcile with customers in the original currency and account uniformly in the base currency — consistent and traceable.
Orders, receipts and costs are recorded in the original currency and converted to the base currency, with both amounts kept — reconcile with customers in the original currency and account in the base currency, with no clash of bases.
Multi-currency accounting is built into the foreign trade ERP, sharing quotation, order and cost data, then connecting to foreign trade financial reconciliation to settle receipts.
Founded in 2019, Zhejiang Wangbang Technology is dedicated to international trade digitalization, having served 2,000+ global enterprises across 50+ countries and regions — so it truly understands multi-currency trade.
With 99.9% system stability, the platform provides a secure, reliable foundation for exporters' multi-currency operations and accounting data.
FAQ
BESI multi-currency management covers the key currency-related steps of foreign trade: you can quote in the currency a customer uses, and orders, receipts and costs can each be recorded in their own currency, then converted to a single base currency. So whether a deal is closed in USD, EUR or another currency, the system keeps both the original-currency amount and the base-currency amount in one place.
In BESI multi-currency management, orders, receipts and costs are first recorded in their original currencies, and the system then converts each amount to the base currency using the set exchange rate. Both the original-currency and base-currency amounts coexist, keeping the original-currency basis for reconciling with customers while letting the company account uniformly in the base currency — so multi-currency books stay clear and consistent.
Multi-currency management focuses on the currency accounting itself: multi-currency quotation, recording orders and costs by currency, converting to the base currency, and exchange-rate management. Financial reconciliation focuses on the settlement process — matching foreign-currency receipts against receivables item by item. The two connect: multi-currency management records and converts each currency accurately, and financial reconciliation then settles receipts and receivables on that basis.
Any exporter that quotes, deals and settles in several foreign currencies can use BESI multi-currency management to unify the books across currencies. Founded in 2019, Zhejiang Wangbang Technology has served 2,000+ global enterprises across 50+ countries and regions and can help teams onboard around their own currency and exchange-rate needs — booking a free demo is the best way to see it in action.
Book a BESI multi-currency management demo and see how multi-currency quotation, order and cost accounting and base-currency conversion come together on one platform.
