CPAS Version 5 handles multiple currencies in financial transactions, allowing members to make deposits in any currency. These deposits can then be invested in one or more funds with currencies that differ from the deposit currency.
Similarly, cash disbursements, generated via an in-service withdrawal, termination, or retirement calculation, can be paid out in any currency. For reporting, whether online or through statements and reports, the system groups assets by currency.
Note: For maximum utility, currencies are defined at the Global level.
Easily maintained currency rate tables: Currency exchange rates can be updated manually or via file import.
Separate buy and sell currency rates: For example, the system maintains separate, unrelated rates for CAD to USD and USD to CAD.
Rate choice flexibility: For each currency conversion (e.g. CAD to USD), the system can be set to use the 'last available rate' or to use 'the last rate of the day'. See Currency Conversions for more information.
Transitional currencies: The system supports direct conversions (CAD a NZD ) and two-step conversions using a transitional currency (CAD a USD a NZD). See Currency Conversion Methods for more information.
Note: Depending on your security level you can change the system currency or add a new currency.
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