The bottom line is the ultimate information an accounting software system has to answer. As we all know, the same transactions can result in very different numbers, depending on the choice of accounting rules and available options.

ALFOX ERP II allows to account in one or more Accounting Schema In parallel. An Accounting Schema is the selection of the national accounting standard (e.g. US GAAP), accrual or cash based accounting, the inventory Costing method (e.g. Standard, Actual Average) as well as the Currency .

This allows you to maintain in parallel

• accounting books for fiscal reporting
• information base for management decision (management accounting)

and also eliminates the need of conversion, transformation and consolidation of foreign subsidiary accounting entries.

In addition to reporting in multiple currencies, ALFOX ERP II supports multi-currency invoicing, payments and bank statements - example: invoice in USD - payment in EUR - bank account in CHF.