Solved

Crypto currency in Acumatica

  • 11 April 2022
  • 3 replies
  • 211 views

Userlevel 7
Badge +16

Does anyone know of a Crypto currency provider for Acumatica? I know that currently out of the box, we would just need to set up a payment type and accept it as cash, but is there another option?

Our client is ok with that, however, I know more will be looking in the future for it. 

icon

Best answer by Doug Johnson 14 April 2022, 15:10

View original

3 replies

Userlevel 7
Badge +3

A few things with Cypto:

  1. Tracking customer and vendor transactions in a crypto currency. This is currently supported. I was able to setup Bitcoin as a currency (CM.20.20.00). Automatically import currency rates from openexchangerates.org (CM.50.70.00) and create Vendor Bills (AP.30.10.00) and Customer Invoices (AR.30.10.00) denominated in bitcoin. The challenge is that you need to have your decimal precision set to at least 4 and most likely more for your entire system. The default of 2 will not let you get granular enough.
  2. Accept customer payments in a crypto currency. Currently we do not have an out-of-the-box processing center (CA.20.50.00) that can accept crypto payments. We have a hidden Stripe integration … I’m working with Stripe to see if they have the ability to accept crypto payments using the existing integration.
  3. Paying vendor bills in crypto currency. I believe this may be supported if your bank will accept crypto currencies but we have not tested the process.

 

Example of creating customer invoice in Bitcoin

 

Userlevel 7
Badge +16

Thanks Doug. I’ll work on what you have provided and test it. 

If you set your unit of measure to satoshis rather than bitcoins, then your decimal problem is solved. 1 btc = 100,000,000 satoshis.

I’m definitely interested to know if Acumatica will support bitcoin payments natively in the near future.

Reply


About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2024  Acumatica, Inc. All rights reserved