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06.03.2007 General News

AccTech ready for Cedi Re-denomination

By : GNA

AccTech Ghana, a subsidiary of AccTec Alliance, an ACCPAC accounting provider noted for managing effectively the currency conversions in Africa said it was ready for the July re-denomination of the cedi.

Speaking to the GNA in Accra on Monday, Mr Alan Harris, Managing Director of AccTech Ghana said AccTech Alliance has successfully managed currency conversion in Mozambique and Zimbabwe and assured its clients of smooth conversion come July 2007.

He said: "Dropping out four zeros could potentially provide a myriad of problems for companies utilising Accounting and Enterprise Results Planning (ERP) systems that are not geared for the Cedi denomination.

"AccTech has proved itself on the African continent with its Currency Conversion Module and the experience gained in Mozambique and Zimbabwe will stand AccTech Ghana in good stead for the looming July deadline," Mr Harris said.

Mr Marc Gower, General Manager of AccTech Alliance said, "various factors influence the difficulty in converting a company's data during such a denomination.

"A company's choice of database and if or not a company is reporting in multiple currencies are just two of the many aspects one has to take into account," he said.

Mr Gower said the company has created a Cedi Denomination Readiness Checklist (CDRC) that companies could complete.

He said the information provided on the CDRC would allow AccTech Ghana to establish the actions required for a smooth conversion.

Source: GNA