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Desperately need ability to enter fx journals. Xero partner left us with an fx conversion balance in the GL I cannot clear. I also cannot extract AP or AR reports in USD.
Totally agree with posted comments below.
Please do not market Xero as multi currency with limited fx functionality and reporting.

Further to Brad Reynolds comment, manual journals are essential but it would be even better if Xero could add in functionality to allow balance sheet general ledger accounts to be recorded in foreign currency, which are auto revalued at each month end, and where the opening balance reports in foreign currency on GL reports - same as Accounts Payable, Accounts Receivable and Bank Accounts.
We operate in Argentina and have a long term GST receivable (IVA or VAT) in pesos and also an intercompany loan receivable/payable in USD, both of which need to be manually revalued into AUD at the end of each month. Work arounds are to raise AR customer invoices for the GST & loan receivable (but this looks strange in AR), and to raise supplier bills for the loan payable (but this ends up in AP). Or to track FX transactions in a spreadsheet, add the FX, opening balance to get the closing FX balance then revalue each month end.

So, according to your Xero article here:

https://www.xero.com/blog/2018/11/multi-currency-enhancements/comment-page-1/?WPACRandom=1676880377#comment-496364

we should be having a "beautiful, seamless experience in multi-currency reporting".

So, why is it, then that, FOUR YEARS after that article was written and NINE (YES, NINE!) YEARS after someone first asked for it, we are still waiting?

Stop spending time on staff meetings and focus groups to work out what shade of teal a button should be or if that button should be a bit more to the left or the right and spend it, instead, on things that actually matter to the people who are paying you to care.

Crickets from Xero.
Is someone working on this?

That is very critical but also some detail to back up the Bank revaluation account

This is very important and beneficial for our company.

This is a very important function for an account supporting foreign currencies. Can't believe this is not available as it is a function in Quickbooks.

@Christian that doesn't actually solve the problem we are having. Our issue is that if you have a euro invoice then you pay it in euros the next day, it creates an FX difference because it forces it to convert into GBP (or whatever your default currency is).

There is a simple work around for this. Just create an invoice or bill to "accounting manual journal" as a contact and put in your journal entry so that the total equals zero. You can choose any currency this way. We use this for all of our accrual adjustments with our contracts not in the base currency.

How hard could that be??

Just do it. Stop faffing around. Universally applicable in any country.

this is a basic requirement of any accounting system, if Xero can't do the basics why trust it with anything?

foreign currency journals required please!

The Bank Revaluation account becomes Rubhish without them

It is a painful exercise each month determining the GBP equivalents for the currency accounting journals that are required. I can't understand how you can have conceived of a system that allows the posting of bills and invoices in multiple currencies but then doesn't allow posting of journals in currency too!

Hopes Xero IT teams can take the action as quickly as possible to allow manual journal in a foreign currency because this is a basic requirement for an accounting software.

Any progress allowing manual journal in a foreign currency?

Please allow manual journal in a foreign currency

Is there any progress on this?

I agree with everyone else on this request and have to add journal entries in another currency as an Accounts Payable Invoice to get the right value into Xero as this facility is not available - totally illogical to me.