Sage Intacct

Prerequisites

  • In Sage Intacct®: 

    • Multi-currency must be enabled with a Base Currency. 

    • Set up a Transaction Currency. 

    • Company must be using the Intacct Daily Rate. Custom rates are not supported.

    • Transaction definitions 

      • Commitment Invoices & Change orders must have exchange rate and exchange rate type user override OFF

  • In Procore: 

Things to Consider

Show/Hide Things to Consider

  • Currency

    • Vendors and customers in Intacct have default currencies, but you are not required to use them. You can use any available transaction currency.

    • Projects have a currency field that can be set. If no selection is made, no currency value is returned.

    • A specific currency field is not available on project contracts or their lines.

      • The currency is derived from the location dimension field of the project.

    • The currency on the location is inherited from the parent location and must be active on the Procore Project currency list for validation.

  • Exchange Rates

    • Exchange rates in Intacct can be managed through Exchange Rate Types.

      • The Intacct Daily Rate must be in use.

    • In contracts, the exchange rate date determines the rate for unbilled accounts.

    • For invoices generated from contract line items, the rate used is associated with the posting date.

    • The exchange rate date on purchasing transactions, bills, and general ledger details is equal to the posting date.

Steps

  • Enable Multi-currency in Sage Intacct®:

    1. Open the Company menu and click the Admin tab. 

    2. Click Subscriptions, then scroll to General Ledger and click Configure. 

    3. Under Multi-currency Management, add a checkmark to the box next to Enable Multi-currency subscription.

  • Add new currencies:

    1. Open the Company menu and click the Setup tab.

    2. Under Multi-Currency, click Transaction Currencies.  

    3. Click Add and enter the details.

      • You can define both a base currency and a transaction currency.

For any questions about editing multicurrency within Sage Intacct®, please contact their support team directly.