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Cost Accounting - Different Currencies

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HI,

We are a Import/Export distribution business, currently using online ERP cloud application, and want to move to B1 in the cloud.

 

I have a question around with the currency used on Inventory, can Product use a different cost currency, than the system currency used?

example, we use Philippine Peso (local currency) for sales, and purchase product in $USD from overseas suppliers.

 

How will this effect reporting, Stock Value Report, P&L, Balance Sheet, Purchase Orders, etc.

 

Thank you for any help with best practice on this topic

Peter


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