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’.
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