Currency rebasement in Accpac

[johnhugh]

Hi, We use Accpac 6.
Our functional currency is USD, some of our suppliers are in Zambian Kwacha which is being re-based as of 01/01/2013.
Basically the last 3 zeros are being cut off.

Could anyone advise what I have to look out for in Accpac to incorporate this change?
Obviously the FX rate needs to be correct.
What about AR & AP aged payables? How would I convert them to reflect the new currency? Do a revaluation?
What about bank balances?

 

[ettienne]

The USD amount remains unchanged for AP & AR, correct? If you revalue AP & AR then it will change the USD amount. You will have to override the amounts at the time you process payments/receipts during the change over period. Do you have any Kwacha bank accounts? Those you would have to treat differently, maybe adjust the Kwacha balance to zero at the old rate and then bring in the new balance at the new rate.

 

[johnhugh]

Thanks ettienne!
Good point on the revaluation and yes on the Kwacha bank accounts.

Anyone else can add to this topic?
Surely I'm not the only Accpac user faceing this issue?