There are three sets of debits and credits for each transaction in the bank report as there can be 3 currencies involved in the transaction - the currency of the (bank) account, the currency of the business and the currency of the transaction. The debits/credits on the bank report show the impact of the transaction on the bank account.

The drilldown (click on the +) will show the impact of the transaction on all accounts

This functionality enables Fusion to support businesses who wish to transact in other (foreign) currencies.

Sage Instant Accounts can be purchased by a business for as little as £115+Vat. As I am sure you will all agree this is a very reasonable price for accounting software. What happens however if this business decides in a few months down the line that they need to be able to create invoices and process transactions in a currency other than the currency their business currently operates in?

The only option for this business is to upgrade their software to the Sage 50 Accounts Professional 2010 which is priced at £1075+Vat. This is an increase of £960 which is just under a grand.

When businesses purchase sage software via the Sage website they are also given the option of purchasing sage cover. For those businesses who wish to purchase Sage Instant Accounts and opt for the Sage cover the price increases from £115 to £215.More...

This morning we received a call from a potential client.  The client has three business locations, London, Dublin & Dubai.

What the client wanted to know was could Fusion Accounts provide them with a set of consolidated financial reports across each of the three businesses alongside individual financial reports.

Also did Fusion Accounts have multi-currency to support the various currencies of each location.

Fusion Accounts can support all of the above.

Foreign currency is offered as a free upgrade to businesses within Fusion Accounts.  When a Business activates foreign currency they can invoice in any currency and accept receipts and make payments in any currency.

With Fusion Accounts being web-based it can be accessed anywhere in the world.