Hi Everyone, Having found this website extremely useful whilst setting up, Im finally registered and now hoping that someone will be able to provide guidance on the following..

A friend of mine has a small business selling food to Europe. He is using a very old version of Quicken at the moment but would like to upgrade.

Are there any multicurrency packages which:

1.    have the facility to translate the daily sales invoices, purchases, receipts etc, at an average monthly rate (or daily spot rate if he decides), and

2.    automatically compute period close revaluations of debtors/creditors and Euro bank account by inputting a closing exchange rate and posting corresponding entries into unrealised/realised gains losses in BS and P&L?

I know that Xero (which looks great) does the exchange rate revaluation of debtor/creditor accounts on a daily basis, posting the adjustments daily to the individual debtor accounts, but I think so many small entries will be overly complicated. Just one month end adjustment is fine.

I believe that Sage L50 closing revaluations have to be done by journal. Maybe Sage 200?? QuickBooks is good but the support is not great. Ive never used SAP but maybe thats an option?

He is leaning away from online packages as he eventually wants the accounts (and a few other websites) to sit on a hosted server so that he can make credit card sales and I can do his bookkeeping, earning some money at last! Any ideas who I can guide him to for advice on hosted servers? Not sure if online packages can cope with credit card sales??

Any other robust user friendly packages out there that he could try out?

Sorry for so many questions at once.all and any advice greatly appreciated!