hi all, we have opened a new store in other foreign country, the problem is this new store will receive stock and sell with his local currancy ( currancy rate 1.2 ). How can we manage this store ( calculate the cost ,reports... etc) in HQ. any help please thanks
Get ready for a lot of manual work.
The way I handle it is each stoer is in local currency. When I transfer something from location to location, I manually change the costs on the transfer in at the receiving store.
Sorry, but the answer is forget HQ for prices and costs. The only thing you will be able to do effectively is transfer goods (quantities) from store to store and run sales reports in the store's local currency. The system is just not built to handle a multi currency enterprise. You will have to work around a lot of deficiencies, but I am getting along okay.
If you don't care about the item cost (and COGS) in the second store, that will work fine. Just enter prices in the local currency and then calculate COGS as an accounting function outside of RMS.
best way is to have at HQ two different databases - one for each country - and then import the data into each HQ using different currency cost and price value. Do the actual financial reconillation in your Accounting/ERP where you can have multi company and each company with different currency. We have many such customers setup. If you want to talk about this more contact me.
I think that is a poor solution. What about inter-store transfers?
While RMS is not designed for multi-currency, you can make it work with some workarounds. Since each store operations database maintains its own cost and price figures, it is possible to do. The sales figures at HQ just need to be adjusted in accounting to make everything work nicely.
I am sorry Jason butthag is the ONLY reliable solution at this stage. Each country in Europe has a diferent VAT (NOT Tax - so your price to end usr must invclude the tax component - YOU Cannot do unless you use different HQ) and your currency base, product description, category and deparment description etc... all have to be in a different language (non of which can be done with how you suggest).
Other option is to use RMS at Store - DO NOT USE HQ - Use Microsoft Ax (ERP) with Retail Chain Manager (RVM) component and link the stores live to MS Ax. this solution is real time, and Ax manages multi country, description etc... within RCM.
Call me for more info
That is simply not true. You just set up a second VAT tax type with the different rate. I am doing it right now.
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