Accounting Groups Management and Multi-currency (FT-1001.011)

About this document

Scope

This document provides background information as well as a functional description of the FT-1001.011 Accounting Groups Management and Multi-currency advanced feature. The described feature is supported from the release version 4.0 onwards.

Note

Accounting Groups Management and Multi-currency is a advanced feature and requires a special license.

This feature is part of the Account Lifecycle Management functionality with number FN-1003.

Feature Availability

Feature overview

Goals

The aim of the Accounting Groups Management and Multi-currency feature is to enable the support of billing in different currencies and with different tax and invoice settings.

Functionality of the feature

Accounting Groups

Accounting Groups are used to ensure accurate billing for customers worldwide. They define the currency, tax, and invoice settings for each account. This includes setting the applicable VAT rate, the currency for invoices, and the PDF template used for creating invoices. Each Accounting Group has a unique prefix for invoice numbers and a specified range for these numbers. There are options to override the type of document generated, such as a legal invoice or a cost overview. Additionally, a VAT number threshold can be set, requiring a VAT number for invoices above a certain amount.

Invoices can be issued monthly, quarterly, half-yearly, or yearly, depending on the configuration.

Note that the creation of Accounting Groups requires the input and configuration of information, which must be done with assistance from MAVOCO.

Invoice Templates

Invoice Templates contain the PDF template used for creating invoices.

CMP allows Invoice Templates to be defined independently of Accounting Groups, allowing them to be used for multiple Accounting Groups.