Magaya Software Accounting Manual

ACCOUNTING CONFIGURATION
MAIN ACCOUNTING CONFIGURATION TAB:
Additional configurations on the Main tab:
Currency:
Select your home currency. Note: This option is active only if there are no
existing accounting transactions. It is recommended that home currency be set
up in the Startup Wizard. To update a currency rate, click the button on open
the currency list. For information on working with multiple currencies, see the
section “Multicurrencies.”
Reverse Exchange Rate:
If you work with currencies that convert to very small amounts, you may want
to work with the reverse rate. Check the box for this option, and your Magaya
system will calculate the rate for you. Leave unchecked for the direct exchange
rate.
Fiscal Year:
This sets the starting month for the fiscal year. If you used the Accounting
Wizard to set up your Magaya software, the date displays here. The system will
use this month as the beginning of the new fiscal year to automatically calculate
the retained earnings of the previous year.
Configure Liquidation Options:
These options can be set for outgoing and incoming shipments separately. For
details on liquidating shipments, see the Shipments chapter in the Magaya
Cargo System Operations Manual.
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