When to Use MRC
MRC is specifically intended for use by organizations that must regularly and routinely report their transactions and financial results in multiple currencies, other than their primary functional currency. If you only need to report balances in a currency other than your primary functional currency, the General Ledger Translation feature is probably sufficient.
Note: MRC is not intended as a replacement for General Ledger's translation feature.
Typically, you should consider using MRC when:
- You operate in a country whose unstable currency makes it unsuitable for managing your business. As a result, you need to manage your business in a more stable currency and still be able to report your transactions and account balances in the unstable local currency.
- Your company is multinational, and you need to report financial information in a common functional currency other than that of the transaction or your primary functional currency.
- You operate in a country that is part of the European Monetary Union (EMU), and you want to concurrently report in Euro in preparation for the pan-European currency.
See Also
Overview of Multiple Reporting Currencies
MRC Features
