Reports - Add multi currency for intercompany reporting
The functionality to allow for intercompany reporting when the currencies are different between the organisations - for this we would need to be able to create an asset/liability account in a currency other than the local currency. This would eliminate any Foreign exchange gains/losses on intercompany balances.
2
votes
Lynn Clarke
shared this idea
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Spencer McNally
commented
There are lots of use cases for this feature and several reasons why it is essential for any business operating in multiple jurisdictions / multiple currencies.
Not least among them is the fact an asset or liability denominated in a currency other than the base currency will be erroneously valued on the balance sheet as soon as the current exchange rate deviates from the ruling rate on the date that the asset / liability was acquired.