Reporting: Aged Reports - Run in different currency
Ability to run different currencies in Aged Payable report.
Purpose: Because some organisation make their sales in a different currency, so it’s beneficial for them to run these reports using different currencies.
Hi everyone, thanks for all the valuable feedback and ideas shared regarding aged reports in different currencies.
It seems that this idea picked up several different themes over time so we want to clarify where we’re at with this. In the past few months our product team has worked hard to improve the functionality in this area. That includes releases for totals when run in a single currency - so you can see a total of your foreign currency, and disclosures 🎉
We’ve introduced FX disclosures on the Aged Reports, which displays as a note at the bottom of your report or as an icon next to figures on the report to indicate that they include revalued foreign currency amounts to give you more flexibility. The disclosure will contain all the currency information that has been used to calculate the figures in your report. The exchange rate note will display by default, but we’ve heard from some customers that they want the ability to hide the disclosure. We’ve added this option under the More button. Hiding the disclosure this way will also remove it from all exported versions of the report. The disclosure can be re-added to the report later if desired.
While we haven't met the original request, we are confident that the new disclosures functionality will make it easier to understand foreign currency balances. Being transparent we have no plans to build the ability to run aged reports in a different currency. If you still find that you need the ability to run aged reports in a different currency, even using the improvements we’ve released, you’re welcome to create a new idea so we can gauge user need from this point on.
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Natasha Groenewald commented
I have found a temporary work around, but sadly it is not perfect.
I don't think the people who set up these report actually have any accounting background.
If you go to reports, you can either choose:
- Payable Invoice Summary
- Receivable Invoice SummaryThere you can customize the report to show base currency. But unfortunately it does not total the outstanding values, so this means you still need to export the report to excel to get these values
We will have to see if these solutions work for us, otherwise we will have to move to another accounting package.
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Pauline Chua commented
Agreed with Lisa. The old version of the aged AR & AP reports in foreign currency is better and serve our needs. Please keep it.
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Lisa Stout commented
this is rubbish the report that was previously there is what i want
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Sue Griggs commented
I chose Xero for this reason, the ability to run reports in different currencies.
I am not sure why you are removing a function, and not replacing it.If this is not going to be resolved please let me know and I will look for an accounting software that does do that.
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Sue Griggs commented
I really need this as most of my vendors are in a different FX rate to our currency.
We purchase a lot and it would be nice to have this so I can reconcile back to the Vendor statements. -
Lorna Fraser commented
Can any of these new reports be totalled by currency without exporting to Excel?
The old style supplier invoice report gives the function to be able to select currency and total it by currency. Without this function, I cannot identify how much of each currency I will have a need for at the end of the month.
It's ridiculous that Xero are taking away functionality from the system and not replacing it.
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Jen Tan commented
please dont take away the Note off the new report as really need to identify the different currency customers.
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Sally Greenwood commented
I cant believe after all this time that Xero STILL havent incorporated multi currency aged DRs reports and even worse taking the NOTE off the new report so the only way to actually identify the DRs on your aged dr list once new reports go live is to do a load of extra work. At least with the current list I can sort by the note and calculate back to currency with a simple equation with the exch rate provided. After July even this wont be available. This is an appalling change without a suitable EASY alternative.
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Laura Hollands commented
Too True Rob - for us users anyway - still waiting for XERO to agree on the importance of this flaw and fix their non-fully functional multi currency xero
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Rob Needham commented
These reports are part of a basic function of running a business .
You cannot justifiably say you have valid multi currency accounting software without them
All the performance, interface and reporting extras are no use if the BASICS are not in place. This NEEDS to be prioritised,
At then end of each period of use without this we should be refunded the difference between the multi currency ability and the next lower licence tier until this is implemented.
It is like paying for a standard manual car and finding it has no reverse gear.
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Jen Tan commented
Don't understand why xero can implement the new version which don't allow us to drill down to the foreign currency as like the older version. Thought new version should be a much better platform but not in this case. Is it possible for you to leave the older version there for us to use until these functions are available in the new version.
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Sharon Bolderson commented
This is critical. A real oversight - all our clients use this feature that purchase stock in a foreign currency - so almost all of them.
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Steve Ross commented
In the current Aged Payables and Aged Receivables report it is clearly identified what amounts are in a foreign currency. So why are you retiring this functionality on 31 July! This is critical functionality to many of us but you are NOT listening.
Why are you replacing these reporting with something significantly inferior. Many of your customers have been trying to get a straight answer to this simple questions! C'mon Xero, listen and respond to your customers!!! -
Anna Aston commented
Why do the new reports not report in multi currency when the the old ones used to? It seems ridiculous, please fix this ASAP!!
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Yetunde Sogunle commented
So, from the Xero reply to Natasha Groenewald, Xero already have a template which shows the original currency and the base currency in the Receivable Invoice Summary, Receivable Invoice Detail, Payable Invoice Summary, and Payable Invoice Detail reports. Surely, it can't be that difficult for Xero's tech team to replicate these templates and make minor adjustments to create Aged Receivables and Aged Payables reports with the original and base currencies. It looks to me that they have an easy fix but they simply don't want to do so, and would rather focus on making their software look pretty instead of functional.
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Natasha Groenewald commented
Updated received from Xero yesterday:
Hi Natasha
Currently, you are still unable to run the aged reports in another currency.
If you want to see the value of transactions in both foreign and base currencies, you can now however run the:
Account Transactions report
Receivable Invoice Summary report (for a summary of receivable transactions)
Receivable Invoice Detail report (for line-by-line details of receivable transactions)
Payable Invoice Summary report (for a summary of payable transactions)
Payable Invoice Detail report (for line-by-line details of payable transactions)As Paul mentioned, our product team are working on improvements to all the reports and there are more to come as outlined in the blog post linked below.
We appreciate the feedback on this feedback and our product team are aware of this however currently I'm unable to provide any further updates on this.
Xero Blog: The new reporting features that have just landed (and a sneak peek at what’s coming soon) https://www.xero.com/blog/2022/03/new-xero-reporting-features/
Kind regards
Amy
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Andrew Maclean commented
I have been using Xero for 10 years and raised the limitations of AR and AP reporting back then.
Apparently the way the software is built it is not an easy thing to do for them. However, third-party add-ons can do it very straightforwardly!!
I think it shows a lack of understanding of how users operate.
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Cristina Alford commented
Hi Xero
Our business need urgently to be able to run the AP and AR reports in the original currency.
We can't wait until the 1st of July and end it up with no report.We kindly ask Xero to setup the reports en foreign currency as it used to be.
This could become an urgent issue to be resolved.
Thank you
Cristina -
Natasha Groenewald commented
I was sent this on the 20 March 2023. Nothing has been resolved and no feedback since:
Hi Natasha
There isn't currently an update on this functionality, and we're not able to give a timescale for when changes might be made. However, this request is definitely something that our Product Team are aware of.
As you might be aware, there have been further comments on the Product Idea linked to this query, as it is something that other users are also looking for, and the Product team are developing the Receivable and Payable Invoice reports to view, sort and filter transactions by their original currency.
Kind regards
Paul
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Cheryl Martin commented
This is creating us a myriad of issues. We have recently implemented Invoice Discounting and to produce the reports required to reconcile the accounts is challenging. We are having to use an old report to extract the data, and via various pivot tables and formulas, have managed to obtain our aged debtors in the separate currencies. Something so basic should be available as standard.