We've recently started selling into and buying from foreign markets.
Our current accounts package doesn't allow for multi-currency.
We are thinking about changing software, but our accountant thinks that it would be simpler to open foreign currency accounts and trade from there, adjusting the losses and gains at the year end.
Would it not be simpler to have a software package that can deal with multi-currency, set the exchange rate, say, at the beginning of each week and go from there? Purchase and sales orders would be set at the rate on the day they were created and any difference between that and the invoice date would be transferred to the exchange provision account etc...
I would appreciate some sound advice, as I don't understand enough to challenge my accountants idea.

Thank you.

Jenni