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Because the rate is applied once and then forgotten. The invoice converts at issue, the payment arrives at a different rate, and the difference lands somewhere nobody explains.
Multi-currency lets a document be raised, held and settled in a currency other than your base, keeping both amounts on every posting.
The rate is stamped on the document at issue. On settlement the actual rate applies and the difference posts as a realised gain or loss, rather than quietly distorting the sale.
An invoice is raised in euros and paid ninety days later at a weaker rate. Revenue stays as it was recognised, and the shortfall posts as a realised exchange loss where it is visible.
It will not manage currency risk. It records what the rates did; hedging is a treasury decision that lives outside the ledger.
Every posting carries transaction and base amounts, so the ledger, trial balance and aging report all work in either. Revaluation restates open balances at period end.
A feed you nominate, or entered by hand, with the source recorded on the posting.
Yes. Open balances are revalued at period end and reversed after.
Yes, per document, and the aging report can show either.
Fourteen days, every module, no card. Or half an hour with someone who will run it on your own records and tell you where it does not help.