ARTICLE
Enhancing multi-currency precision in our Accounting module
19 October 2023
Mambu increases the precision of multi-currency accounting to support additional use cases such as foreign exchange transactions resulting in small values when converted into the base currency.
For financial institutions that operate across many geographies and in multiple currencies, we understand how important it is to avoid rounding errors and discrepancies in your ledger and accounting records.
With the latest release, we have introduced a new enhancement in our Accounting module that allows you to use up to 10 decimal digits for the converted foreign exchange amounts. This means that you can store and display the exact amounts in your ledger, without any rounding.
This feature increases the accuracy and consistency of accounting entries for foreign currency products and accounts and improves the accounting experience for companies operating in multiple currencies.
Note: This functionality is currently available on request for customers who use multi-currency accounting. If you would like to request early access to this feature, please get in touch with your Mambu Customer Success Manager to discuss your requirements.
To learn more about our Accounting module please visit our documentation page.
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