PracticePeople In PracticeEnterprise switch

Enterprise switch

Software developer Exchequer rebrands 'EMU-prepared' package, writes John Stokdyk.

Bournemouth-based Exchequer Software has started shipping Enterprise Euro, a new version of its Windows-based accounts package that is said to be ‘EMU-prepared’.

The software costs #2,600, the same as Exchequer’s multi-currency Enterprise Global version, but the company says it has been ‘tweaked’ to handle the two-step triangulation process mandated for conversions between currencies covered by economic and monetary union.

It will also calculate euro values to six significant figures, according to the formula laid down by the European Commission.

Over the past few months, Exchequer has come under fire from rivals and industry observers for adverts and brochures that claimed Enterprise was EMU-ready at a time when the actual requirements had not been agreed.

Exchequer spokeswoman Louisa Geiger explained the Enterprise Euro rebranding exercise was ‘not a response to name-calling, but a response to client demand’.

She said the Enterprise Euro edition was derived from the code that has been running at the UK office of Globaltech, a multinational client that consolidates its accounts in dollars. ‘We had to run dual currencies and when triangulation came along, we found that we were able to tweak the software to do it successfully,’ said Geiger.

The software developers’ association BASDA has been collecting information from participating countries and is expected to publish a formal specification for euro-compliance this week. BASDA is also planning to launch an accreditation scheme to certify whether software meets this specification.

BASDA chairman, Theo van Dort, MD of Megatech, said the trade association ‘cannot confirm any claims until the product has passed the formal accreditation’.

Related Articles

Is inefficiency stealing your time and money?

Accounting Firms Is inefficiency stealing your time and money?

6m Emma Smith, Managing Editor
CIMA elects new president

Institutes CIMA elects new president

6m Emma Smith, Managing Editor
Transparent currency trade: How to achieve costs visibility

Governance Transparent currency trade: How to achieve costs visibility

6m Emma Smith, Managing Editor
Introduction to KPMG UK’s new leadership team

Accounting Firms Introduction to KPMG UK’s new leadership team

6m Emma Smith, Managing Editor
EY appoints head of UK Infrastructure Asset Intelligence practice

Accounting Firms EY appoints head of UK Infrastructure Asset Intelligence practice

8m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
MHA MacIntyre Hudson advises on management buy-out

Accounting Firms MHA MacIntyre Hudson advises on management buy-out

10m Emma Smith, Managing Editor