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Sell, invoice and collect in more than one currency with live or fixed exchange rates, foreign prices per style and gain and loss reporting, and run labels or categories as divisions of one company for forms, reps and reporting.
Multi-currency in AIMS360 lets a brand price, book, invoice and collect in currencies other than its own, with live or fixed exchange rates and gain and loss reporting when the rate moves between invoice and payment. Divisions split the same company by label or by men's, women's and children's, so every order, invoice, inventory count and receivable can be read per division without running a second company file.
Multi-currency is a switch that lets one AIMS360 company sell in more than one currency: active currencies are chosen in system settings, every customer, sales rep and factor carries one currency, every style carries a wholesale, suggested retail and portal price per currency, and orders, invoices, payments and receivables hold the currency and the exchange rate of the day, with live rates by default and unrealized and realized gain and loss reports under receivables. Divisions are the named splits of the same company, by label or by men's, women's and children's, that every style belongs to, so reports, forms, sales rep assignments and BI can all run per division.
They are on one page because they answer the same buyer question from two sides: how does one system carry a brand that is no longer one price list in one market. A house with a US label and a Canadian label sells the same styles in two currencies to two customer lists and wants one inventory and one close. Currency handles the money; divisions handle the identity. Neither creates a second company, which is the point.
| Area | What multi-currency does |
|---|---|
| Home currency | Set once in company settings. Every price on the style master, every cost, every report total and every ledger posting is in the home currency unless a record says otherwise. A system that has never turned multi-currency on is a home currency system, usually US dollars. |
| Active currencies | Chosen on the multi-currency tab of system settings. Only active currencies can be assigned to a customer, a rep, a factor or a style price. The number of currencies you can activate depends on your plan. |
| Exchange rates | Live rates are retrieved automatically for any date up to today, and today's rate is used on new orders and invoices. A brand can instead enter a fixed rate per currency that stays in force until it is changed, and can allow users to modify the rate on an order or invoice. |
| Customer currency | One currency per customer account. A customer that buys in two currencies gets two accounts. Once orders or invoices exist the currency is locked, and after activation every existing customer needs a currency before an order can be placed. |
| Style foreign prices | Wholesale, suggested retail and portal prices per active currency, set at the style and color level: one at a time on the foreign prices tab, in batch across styles and colors for one currency, or by Excel import with a column per currency. The home currency price stays on the style master. |
| Orders and invoices | The order header carries the order's currency and the rate on the day it was entered; every price field on the order and its line items shows that currency. The invoice inherits the order's rate and date, editable if the setting allows. Pick tickets print the currency when prices are printed. |
| Payments and banks | A bank reference per currency. A payment is taken in the invoice currency at the invoice rate by default; a payment received in the home currency against a foreign invoice is posted to the home currency bank with the rate adjusted on the selected invoices. Customer AR shows balances in both the customer currency and the home currency. |
| Gains and losses | Two receivables reports. Unrealized gains and losses, before payment, on a date range, customers or invoices at a rate you confirm or enter. Realized gains and losses at the moment a payment posts at a different rate from the invoice. |
| Reps and factors | Each sales rep carries the currency they are paid in. Each factor carries a currency, and a factor working two currencies is usually two factor records, matching how the factor runs its own accounts. |
Sales, margin and receivables reporting on the same orders is on sales order reports and accounts receivable. The ledger side of currency, including undeposited funds per currency, is on the accounting integrations hub.
A Canadian dollar account is opened for the retailer. The currency column in the customer list shows which accounts still need one; after activation, no order can be placed until it is set.
The Canadian dollar wholesale, suggested retail and portal prices were set on the style and color, one at a time, in batch, or by import. The order line takes that price, not a conversion of the home price.
The order header shows the currency and the exchange rate of the day it was entered, from the live feed or the fixed rate. Every price field on the order shows the currency. If allowed, the rate can be edited; the calculated home currency value moves, the foreign prices do not.
The invoice takes the order's rate and date and prints the currency. The payment posts in the invoice currency to the Canadian dollar bank reference at the invoice rate, or in the home currency with the rate applied per invoice. Customer AR shows both balances.
If the rate moved between invoice and payment, the realized gains and losses report shows it. Before payment, the unrealized report values open invoices at a rate you confirm. The order list groups by currency so totals stay in one currency at a time.
| Topic | How divisions work |
|---|---|
| What a division is | A named split of your goods: men's, women's, children's, or the labels you sell under. Every style belongs to exactly one division, and that is what makes division reporting reliable rather than a tag someone forgot to add. |
| Codes and names | An eight character short code and a name up to fifty characters. Codes are generated by the system when a division is created, so there are no duplicates to police. |
| On the forms | When forms print with a text return address instead of a logo image, the division name prints on the order confirmation and the invoice with the company address, so a customer buying from your second label sees that label. |
| Sales rep by division | A different sales rep per division on the same customer account, set on the customer, on the rep, or in batch. The rep who covers women's at a store is paid on women's, and the commission follows. |
| Reporting | Cut and sold prints the division beside the season on every line, margin by order runs by division, aged receivables reports by division, and Order BI, Invoice BI, WIP BI and Stock BI put division in rows or columns. Every style selection filters by it. |
| How many | Thirty six divisions are available as standard. Brands that need more can have additional divisions enabled through licensing, with the caveat that the portal, the rep app and the general ledger integration currently work with the standard set. |
| One company file | Divisions share customers, inventory, warehouses and the ledger. They are a reporting and presentation split inside one company, not separate companies; the closing date, the chart of accounts and the customer list are one. |
Division sits beside season, class, style group and custom fields on the style master, and the style analysis reports and built in BI read all of them. Stock by location is a warehouse question, not a division one; the two are independent.
One division. US dollar accounts and Canadian dollar accounts for the same retailers, Canadian dollar prices on the styles that cross the border, one inventory, one close, gains and losses reported when the rate moves.
Two divisions, one currency. Each label's name prints on its confirmations and invoices, each has its own rep on shared accounts, and every report runs per label or across both from the same order desk.
A division for the export label, foreign currency accounts and prices under it, and the same customers and warehouses as the home label. Management reads the company in the home currency; the export label reads itself in its own.
Currency is a property of accounts and prices; division is a property of styles. A division does not have a currency and a currency does not have a division. That is why the export label pattern works: the division gives the label its identity and its reports, the accounts and prices give it its currency, and nothing has to be duplicated to get both.
Company settings, special options. A system that has never set one is treated as US dollars. Every existing customer account should be in the home currency before the switch; if any are not, talk to us first so the history is handled.
System settings, multi-currency tab. Tick the currencies to activate, decide between the current exchange rate and a fixed rate per currency, and whether users may modify the rate on orders and invoices. Optionally have new styles activate every foreign currency automatically.
Rename the default bank and add one per currency you are paid in. No bank data is connected; the reference is where payments post and what the ledger integration reads. With the general ledger integration, turn on undeposited funds and enable multi-currency in the accounting system too.
Filter the customer list to accounts with no currency and set each one; it locks once orders exist. Set the currency each rep is paid in and the currency of each factor account.
Foreign prices tab on the style and color, batch update for one currency across many styles and colors, or the Excel template with a column per currency. Wholesale, suggested retail, portal price, taxable.
Switch the selling currencies on in the NuOrder tab if you use it; JOOR receives the active currencies automatically; keep the Shopify store's primary currency equal to the home currency, because Shopify orders arrive converted.
A customer, rep or factor carries a single currency, and a customer's currency cannot be changed once it has orders or invoices. Plan the account structure before activation; a retailer in two currencies is two accounts with two codes.
A sum across an order list that mixes currencies is a mix of currencies. Filter or group the list by currency before reading a calculated total; the group by row per currency is the reliable read.
Customers, orders, invoices, payments, receivables, reps, factors and style prices carry currency. Vendor purchase orders carry the style's FOB and landed costs from the style master. If you buy in a foreign currency, raise it during scoping.
Thirty six divisions is the standard set. More can be enabled through licensing, but the B2B portal, the rep app and the general ledger integration currently work with the standard set, so a brand on any of those stays within it.
It lets a brand sell, invoice and collect in currencies other than its home currency. Once it is turned on, you activate the currencies you need, set foreign wholesale, suggested retail and portal prices per style and color, assign a currency to each customer, sales rep and factor, and orders, invoices, payments and customer receivables carry that currency and the exchange rate on the day. Live rates are retrieved automatically, or you can fix a rate per currency, and receivables reports show unrealized and realized gains and losses.
Only if you have customers who book or pay in a currency other than your home currency, or bank accounts in more than one currency. A brand selling in one currency should leave it off; the system runs as a single currency system, usually US dollars, and nothing on this page applies. Your accountant is the right person to confirm.
By default AIMS360 retrieves live exchange rates for any date up to today and uses today's rate on new orders and invoices. A brand that prefers control can enter a fixed rate per currency in system settings; it stays in force until someone changes it. A third setting lets users modify the rate on an individual order or invoice.
Not on one account. Each customer account carries a single currency, so a retailer that buys in US dollars and in Canadian dollars is set up as two customer accounts, one per currency. The same applies to a factor working in two currencies. Once an account has orders or invoices, its currency cannot be changed.
Per style and color, for each active currency: a wholesale price, a suggested retail price and a portal price for the B2B portal and the rep app, plus a taxable flag. Enter them on the style's foreign prices tab, apply them in batch across many styles and colors for one currency at a time, or export the batch update template, fill in a column per currency and import it. A system setting can activate every foreign currency on new styles automatically, though the prices still have to be entered.
The order header shows the currency from the customer account and the exchange rate on the date the order was entered, and every price field on the order and its lines shows that currency. Line prices come from the style's foreign price for that currency. If your settings allow, the rate can be edited on the order; the foreign prices do not change, but the calculated home currency value does, which is what the gain and loss reports later compare against.
By default a payment is in the invoice's currency at the invoice's exchange rate, posted to the bank reference set up for that currency. If the customer pays in your home currency instead, select the home currency bank, review the original invoice rate shown against each invoice, apply the new rate to the selected invoices and post. Customer AR then shows the balance in both the customer currency and the home currency.
Under receivables reports, the currency gains and losses report has two versions. Unrealized gains or losses runs before payment for a date range, customers or invoices, and asks you to confirm or enter the rate to value them at. Realized gains or losses shows what was actually gained or lost when payments posted at a rate different from the invoice. Brands posting through the general ledger integration with undeposited funds see the gain or loss in the accounting system instead.
Multi-currency has to be enabled in QuickBooks as well, even for a single currency, and a bank reference has to exist in AIMS360. With the undeposited funds setting on, payments transfer in their own currency and land in undeposited funds per currency in QuickBooks, provided the integration is mapped for each currency. Sales reps and factors are given currencies so their postings map cleanly.
The portal and the rep app use the portal price you set per currency. JOOR receives whatever currencies are active in AIMS360 against your styles and connections. NuOrder needs the currencies you sell in switched on in its settings tab inside AIMS360. Shopify orders arrive converted to the home currency, so the store's primary currency should match the AIMS360 home currency.
The multi-currency feature described here is on the selling side: customers, orders, invoices, payments, receivables, reps and factors. Purchase orders carry the style's FOB and landed costs from the style master. If you buy in a foreign currency and need it handled inside AIMS360, raise it during scoping so we can show you how brands set it up.
A named split of your goods, such as men's, women's and children's, or the labels a house sells under. Every style belongs to exactly one division, so orders, invoices, inventory and receivables can all be reported by division. A division has an eight character code and a name up to fifty characters, and the name prints on order confirmations and invoices when the forms use a text return address.
Thirty six as standard. Brands that need more can have additional divisions enabled through licensing; the codes are generated by the system. The B2B portal, the rep app and the general ledger integration currently work with the standard set, so a brand running any of those keeps to thirty six.
Yes. Sales rep by division assigns a rep per division on a customer account, from the customer record, from the rep record, or in batch across many customers. The order takes the rep for its division, and the commission calculation follows the rep.
No. Divisions share one customer list, one inventory, one set of warehouses, one chart of accounts and one closing date. They split reporting and presentation, not the books. Brands that need legally separate entities run separate company files.
Yes. The style selection on every report filters by division, cut and sold prints it on each line, margin by order runs by division, aged receivables reports by division, and Order BI, Invoice BI, WIP BI and Stock BI put division in rows or columns for a per division cross tab of the same data.
Currency is assigned to customers, reps, factors and style prices, not to divisions, so a division can sell in any active currency. A brand with a Canadian label typically pairs a division for the label with Canadian dollar customer accounts and Canadian dollar prices on those styles.
Confirm the home currency in company settings, then on the multi-currency tab of system settings activate the currencies you need, choose current or fixed exchange rates and whether users may modify them, and set up a bank reference per currency. Then give every customer, sales rep and factor a currency, set foreign prices on the styles that will sell abroad, and if you use the general ledger integration, enable multi-currency in the accounting system and turn on undeposited funds. Talk to us before switching it on if any customer accounts already carry a non home currency.
We will set it up in a demo the way you would run it: accounts, prices, rates, a foreign order through to payment, and the reports by division on the other side.
