2 clients both want to use Sage but both need foreign currency functionality. So far as I can make out they will have to buy Sage Line 50 Financial Controller at a cost (from Sage at least) of £995 + VAT. This compares with less than £200 for Quickbooks Pro - have I got this right as the differential seems ludicrous?
Alison Cook
Replies (8)
Please login or register to join the discussion.
You have got it right
Hi Alison
You are correct, your clients will require Sage Line 50 Financial Controller to benefit from foreign currency functionality (referred to as Foreign Trader in Line50).
QuickBooks Pro does provide foreign currency functionality and can be purchased at a significantly lower price.
QuickBooks Pro
No, QBP has crud for foreign currency xactions. I invoice in £, but I recieve in £, $, and € and deposit the payments into the appropriate £, $, or € bank account. When I issue the invoice, I often have no idea as to which currency people will be paying me.
It does not allow a £ invoice to be paid in any other currency, which forces me to have a convoluted workaround.
Sage as bad
Sage is just as bad as QB for handling currency transactions and you need workarounds. Of the two, I (slightly) prefer QB partly because it is easier to untangle the (inevitable) mistakes which are made.
Would be interested to hear about any software which handles foreign currency transactions simply and easily.
Sage 50 v QuickBooks for foreign currency transactions
Having used both I would say QuickBooks.
I don't want to get into an argument here with others that have posted, but any software may be perceived as 'bad' by a user who hasn't had sufficient training. In QuickBooks I regularly post invoices in a currency and receive payments in another. Exchange and revaluation differences - no problem.
PASTEL Partner 2007 Is your answer
Pastel Account is very capable of dealing with foreign currency transactions. The systems handles them very simply and easily. With a built-in f/c revaluation wizard it handles any fluctuations with exchange rates. Pastel is ICAEW accredited and used worldwide.
Competitively priced.
For amore information please contact me on [email protected] or on 0870 7504725.
Look at IRIS
IRIS Accounts Office claims full foreign currency functionality and from the demo I have seen, it seems to be very flexible. The published price is £804 plus £120 for the multi-currency module.
If you want the full monty, I would choose IRIS Accounts Office over Sage Line 50 any day because it has a full relational database rather than the restricted database used by Sage.
Vague term
Alison,
Multi-currency could mean different things to different people. For E.g., ask a SAP and QB software sales persons, it is likely that both will say their respective software have multi-currency functionality. But if you ask them for demo, they may show two unrelated function of a currency.
I don' think you can acquire a fully multi-function software at an entry level for your budget.
Sage for foreign currency
Hello,
I use Sage 50 Prof. 2008. I have always worked in the base currency. However a n new client needs to be invoiced in a foreign currency. Can I do it in Sage pls. Thanks.