Multiple countries/currencies.

Posted on December 30, 2008

I have had this question a few times now, so I thought I would blog about it.

Can RentMaster handle properties in multiple countries and therefore multiple currencies?

The answer is 'Sort of'.

RentMaster does not care about currencies.  As far as the computer is concerned it is just a number.  The fact that we as humans put a currency symbol in front of it is of no concern to the computer.  This is why RentMaster can use any currency, because it is just a symbol on the screen.

RentMaster allows you to have multiple bank accounts.  So you would almost certainly have different bank accounts for each currency.  When you enter transactions you just choose the bank account the transaction belongs to and enter the value in that currency.

The tricky part comes when you start to do reporting.  If you choose properties which are in different countries/currencies RentMaster will just add the numbers together without any currency conversion.  So when printing reports you would have to select/deselect properties from the list so that each print only contains one currency.  If you had 2 currencies, you would print each report 2 times, once including properties in currency A, and then again after only selecting properties using currency B.  This property selection is a manual task.