Ask the Accounting Community

Hello all

I can add to the answers that there are few top Accounting software providers 

• SAP (very expensive, and very standardised, as every adaptation for the company's needs is too expensive), can be connected to consolidation tools -SMART, Vector, Hyperion
• Oracle, is also suitable for consolidating and budgeting multicountry/currency operations via the Cognos application  
• Lawson (good for hospitals)
• Sage

For the Small and medium size business 

• Quickbooks
• Navision/ MS Dynamics
• Freshbooks
• Xero

Here are the more detailed comparison analysis of all of them

Best Accounting Software For Small Business 2023

Hope it helps

Thank you

Regards

Gulshat

I second Sage Intacct.  

I recommend Sage Intacct and Microsoft Dynamics.  See links below. 

https://www.sage.com/en-us/sage-business-cloud/intacct/product-capabilities/extended-capabilities/consolidation-accounting/

https://learn.microsoft.com/en-us/training/paths/use-multiple-currencies-dynamics-365-business-central/

Netsuite handles multicurrency as well.

Shanti,

I don't think there are any other options out there better than NetSuite for multi-currency, multiple subsidiaries, and international/multi-national operations.  Those specific details are where it excels.  For reporting, you can easily see all reports in either consolidated views or separated by subsidiary, and having all data in one system creates amazing opportunities for reporting and decision making. 

I'm probably overly partial to NetSuite, given that is what I focus on, but I think you'll be very pleasantly surprised as how amazing it is for multi-currency and multi-national subsidiary management.  

Let me know if you'd like to check it out first hand!

Is your request for transactional operations (invoicing, payments, etc.) , consolidated reporting or both?   Mondial (https://mondialsoftware.com) can handle multicurrency and multiple ledger (GAAP, IFRS, etc.) without having to change the accounting software used at the local level.  Reporting can be done in each location's functional currency, reporting currency and for consolidations.

Depending on the industry you are working in, there are some subject specific ones that do multi currency. Deltek is a provider for project based businesses.

Hello,

I have done several migration of ERP system for currency mismatch, and the best system for different currencies in my opinion is Netsuite.

Best,

catalina