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#54698 - 08/22/17 10:21 AM Doing business in USA and Canada
Michael_Arbeau Offline
Adagio Buff

Registered: 12/09/10
Posts: 57
Loc: Sidney, BC Canada
Our business has expanded into USA and Canada and we want to make sure we have the correct modules before getting too far down the road. Currently we have:
GL
AP
AR
Bank Rec
Invoice
Job Cost

Within the same GL, we are now billing in US and Canadian dollars, receiving payments in US and Canadian dollars, as well as receiving/paying payables in both US and Cdn. Is there a way to do this easily within Adagio without a bunch of GL journal entries each month? ie. track both US and Cdn AR/AP through the subledgers, preferably a separate subledger for the US and Cdn amounts that flow into the same Cdn GL.

Secondly, in order to draw down our GL inventory account (Cdn dollars), from both our Cdn and US invoices, do we only need the IC module? Will that be able to track the multicurrencies? We would also want our US and Cdn purchases to flow to those Inventory GLs (Canadian dollars).

Any thoughts are appreciated as we want to make sure we get this set up right the first time.

Thank you
Michael

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#54699 - 08/22/17 10:41 AM Re: Doing business in USA and Canada [Re: Michael_Arbeau]
Retired_Guy Offline
Adagio Master

Registered: 03/16/99
Posts: 10493
Loc: Canada
Because of the volume of our US business, and the fact that we are not importing/exporting goods, we just use separate control accounting in AR and AP for the USD transactions. We are also not subject to public reporting requirements or even external audit.

I would consult with your Adagio Reseller about how best to proceed.
_________________________
Andrew Bates

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#54701 - 08/22/17 11:17 AM Re: Doing business in USA and Canada [Re: Retired_Guy]
Michael_Arbeau Offline
Adagio Buff

Registered: 12/09/10
Posts: 57
Loc: Sidney, BC Canada
So we are able to have 2 subledgers in the AR and AP modules? ie. Cdn AR, US AR, that flow to separate control accounts in the GL?

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#54703 - 08/22/17 11:22 AM Re: Doing business in USA and Canada [Re: Michael_Arbeau]
Retired_Guy Offline
Adagio Master

Registered: 03/16/99
Posts: 10493
Loc: Canada
AR and AP support unlimited control accounts.
_________________________
Andrew Bates

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#55293 - 10/13/17 10:30 AM Re: Doing business in USA and Canada [Re: Retired_Guy]
Brian Stief Offline
Waterloo Guy

Registered: 04/04/06
Posts: 1712
Loc: Waterloo, Ontario, Canada
Hi,
We do not follow the forum daily so we are late responding to your question about configuration and processing within USA and Canada.

I'm answering with a perspective of best practices and our experience as Adagio integrators as we use Adagio for our sales in Canada, USA, UK, and the Caribbean. I agree with Andrew's previous suggestions to talk to your Adagio consultant, but not so as to attempt with separate control accounts. This assumes you have or will have some transaction volume based upon your current and expected growth.

If you want to get this setup right the first time, you need to get multicurrency. Adagio has a great multicurrency module that anyone processing transactions in USD or CAD currencies with any regularity, should be using. (No exceptions.) Yes, you can set up separate subledgers or separate control accounts, but that is not a real solution unless you are content to continually have to do manual journal entries and rely on that other accounting software called EXCEL to do sales analysis. It's a question of do you want to work harder or work smarter?

It also sounds like you need the Inventory module and replace your Invoices with Adagio Order entry, and possibly Purchase Orders, and Gridview We are assuming that you are growing and need to track open orders and backorders and want to see effective margin analysis on your sales.

So you do need more modules. And you will need to get some consulting help to convert your single currency settings to multicurrency, because this is no way to just turn on these settings unless you do the configuration before you do any sales in the second currency location.

Good Luck.
Brian
_________________________
Brian Stief,CPA,CA
Stief Group www.stiefgroup.com
Link2 Systems www.link2systems.com
800.540.3164

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