Reporting: Aged Reports - Run in different currency – Share and support customer ideas for Xero

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.

264 votes

AdminXero Team (Admin, Xero) shared this idea · 09 August, 2012 · Report… · Admin →

not planned ·

AdminHannah G (Admin, Xero) responded · 11 December, 2023

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.

Show previous admin responses (3)

under review ·

AdminKelly Munro (Community Manager, Xero) responded · 24 May, 2023

We appreciate the depth of feeling from everyone regarding running Xero’s aged reports in foreign currency.

Following retirement of our old reports on 31 July ( https://central.xero.com/s/article/Retiring-old-versions-of-reports-in-Xero ) , we’ll be looking at adding new features and being able to run the aged reports in a different currency will certainly be in consideration.

To help with your foreign currency needs now we have recently released some common format reports in the Payable and Receivable Invoice reports. you’ll find these alongside the new Aged Receivables Summary and Aged Payables Summary reports within the left hand side panel under ‘Related reports’.

Payable Invoice Summary – Approved and paid and Receivable Invoice Summary – Approved, sent and paid

These reports list every outstanding payable or receivable item. By configuring the start date to include all outstanding items, and excluding prepayments (under the More button), you’ll have a list where the total balance due matches your Aged report. You’ll be able to see the original currency of every item and the amounts in source and base currency.

Supplier Invoice Activity and Customer Invoice Activity

Use these reports to see all activity for a customer or supplier for a chosen date range. Add the Original Currency column to see which currency the item was issued in.

After you’ve configured the reports the way you want them, remember to save them as Custom ( https://central.xero.com/s/article/Create-reusable-custom-report-layouts ). You can also favourite a custom report ( https://central.xero.com/s/article/Access-and-browse-reports#Markareportasafavourite ) so it’s available in the Accounting menu dropdown, to help you navigate to your most used reports quickly.

Currently, we’re working on adding notes to the aged reports showing the exchange rates used to convert to base currency. This work is underway but won’t be finished before 31 July – In the meantime, if required you can add your own note to the report using the Insert content button ( https://central.xero.com/s/article/Add-text-blocks-and-notes-to-reports?userregion=true#Addanote ). Rates used on this report are taken from the Currencies screen under Settings. We have another idea centered around this ( https://productideas.xero.com/forums/939198-for-small-businesses/suggestions/45418840-aged-payable-receivable-report-foreign-currency ) that we’ll be keeping you updated through. Thanks

submitted ·

AdminKelly Munro (Community Manager, Xero) responded · 03 February, 2023

Understand all the enthusiasm and interest in being able to see the currency the business deals in included in more of Xero’s reports.

As many will be across, we’re working hard to make sure you have all the functionality you need in new reports, before older versions are retired on 31 July 2023 – See more on this in Xero Central ( https://central.xero.com/s/article/Retiring-old-versions-of-reports-in-Xero )

This being the main priority and focus for our reporting product teams, immediate developments for additional features like what’s being asked here aren’t in the pipeline at present.

Some of our new reports already convert foreign currency amounts to your base currency and do the appropriate revaluations and gain/loss calculations for financial reporting. The Account Transactions report also lets you view transactions in their original currency amounts, and coming soon – we’re developing the Receivable and Payable Invoice reports to view, sort and filter transactions by their original currency.

We’re continuing to stay on the beat of all the feedback about reports across product ideas, and will have more opportunity to review new developments when older reports have been retired.

submitted ·

AdminRudi Moritz (Admin, Xero) responded · 28 March, 2022

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Nathan Kennedy commented · 27 January, 2023 01:33 · Report

This is really critical for us so we can easily view how much we owe suppliers whose currency is not the same as our base currency. Otherwise we have to go into each individual supplier account to check how much we actually owe them in the currency that is owed. This is currently a big administrative task. I know that in QuickBooks you can easily view Accounts Payable in the original currency, so I'm tempted by that.

Kind regards

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Stephanie Stafford commented · 27 January, 2023 01:31 · Report

Very important

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Nathan Kennedy commented · 27 January, 2023 01:31 · Report

This would be extremely helpful.

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Nicola Davies commented · 27 January, 2023 01:31 · Report

This would be extremely helpful

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Nick Brown commented · 27 January, 2023 01:29 · Report

Ridiculous that this is not available. And the original post was back in 2012?! that's madness.

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Cathy Byrne commented · 24 January, 2023 23:45 · Report

Very surprised to find the report isn't already available when the system is multi currency

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George Quin commented · 24 January, 2023 04:28 · Report

It's literally unbelievable you can sell a multi currency product without any basic report in that currency. It's also probably the easiest bit of dev imaginable.

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Simon Halliwell commented · 24 January, 2023 04:26 · Report

How is this not possible yet

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Abbie Baird commented · 23 January, 2023 09:40 · Report

I have given up waiting for Xero to address this issue & taken up an app that works with Xero from G-Accon. I have paid the G-Accom support team to write me a multicurrency aged debtors report that draws directly from Xero and will save me 3 hours work weekly exporting & reformating reports for our Bank & Directors.

Extremely frustrating that we are paying for a premium product that cannot do this. We transferred from MYOB 4 years ago and that system was able to produce standard multicurrency aged Debtors & Creditors reports - why is it that Xero is still unable to?

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Lorna Fraser commented · 21 January, 2023 04:28 · Report

Xero does not work if you operate in multi currencies. I agree with the comments below from David.

It is not practical or time efficient to be exporting reports to excel and applying formula to work back to the original currency figure - which is one of the suggestions I've been given by Xero support. This is especially ridiculous when all the information is entered into Xero in base currency in the first place!

I will be looking at other options, reluctantly. It is a huge upheaval to change accounting software, something which I'm sure that the development team of Xero know and are relying upon.

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David Waterfield commented · 20 January, 2023 23:51 · Report

Xero is a single currency tool.

I've read the feeds and comments and replies back to Natasha and others.

We know all this. We are the users!!!!!

BUT when I'm on the phone to a customer or supplier and looking at contacts page I want to know the totals in the invoiced currency - yes I can open a pdf and see the currency splits - but I want to see what I need on the screen.

On the supplier side I need to see the actual currency aged approriately; also I want to see the total to pay in currency and the currency adjustment seperately.

Try doing customer or supplier statement reconciliations especially when trade is multi currency with the same customer or supplier.

Have any of the development team ever worked in accounts?

Please someone get a grip and stop saying we are "going to do it".

I think we are up to the point of moving from xero.

If we all vote with our feet maybe xero will take note.

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Natasha Groenewald commented · 20 January, 2023 22:27 · Report

Just received an update:

Agent profile pic
Paul
Support specialist
Today 9:19 AM
Hi Natasha

Thanks for your feedback regarding this, please be assured that we do hear your frustration about this functionality.

I've forwarded your comments to our Product team, who are working towards providing more multicurrency options for our reports. Your comments on our Product Ideas page also help them to prioritise future improvements in this area, however please note that we're not able to give a timescale as to when this will be available.

Kind regards

Paul

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Bipin Shah commented · 20 January, 2023 22:20 · Report

The new AR/AP reports are not fit for purpose if they do not report in the foreign currency. The Xero Premium subscription is marketed to be "Multi- Currency". Need to fix this ASAP please!

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Sally Greenwood commented · 20 January, 2023 22:06 · Report

so on the new aged DR list, how do I see the customers that are in Euros and the exch rate used to convert to GBP. I need this has I have to do a monthly report to our bank. Currently I use the exch rate that is shown on the aged dr and convert all those that have the note by them so I can get a report that shows Euros. This isnt on the new report that Xero spent so long working on. these reports as far as I can see are not as useful as the old reports!!! Does this mean from July I will have to manually work out my Euro aged drs to provide my bank - this is now getting ridiculous. I am thinking of moving to another software provider as the limitations of this system are getting worse and even the work arounds are being limited. What a useless report

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Natasha Groenewald commented · 20 January, 2023 20:50 · Report

My reply:

Hi Paul

Regarding the customer statements:
In the Awaiting Payment Tab it show the individual unpaid invoices but does not give a total outstanding in the capture currency, only base currency.
I can only export the statement in PDF, which does not help if you need to rework the data

Same problem with Supplier Bills

So there is no report to show me the age payable or age receivable in the correct capture currency.

For now I can use the Old Age Payable and Age Receivable reports, but the overall view is also in the base currency. If I do select a customer/supplier it does show me the correct currency but only if I export the report to excel. This is very cumbersome to check each individual customer /supplier by physically having to export the data and not having it readily available to view on one screen.
Do you understand the frustration?

The old Age Payable and Age Receivable reports will be discontinued on the 31 July 2023. Then there will be no way to view the balances in the correct captured currency as the new reports are totally useless.

Please, please please understand that this is a basic necessity for any accounting program. We are paying a premium fee and we should be able to view a customer/supplier age analysis in the correct captured currency.

Please check the various threads regarding this issue, this is essential and not customer having unreasonable requests

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Natasha Groenewald commented · 20 January, 2023 20:49 · Report

Reply from their support team on a case I logged regarding this issue:
(This does not solve the problem)

Hi Natasha

When viewing your customers and suppliers in the Contacts screen, the account balances are shown in the base currency of your organisation.

As you've observed, Xero's reports also show the base currency value of your accounts and transactions, and when viewing your contacts, their current balances are also shown in your organisation's base currency.

However, if you click Business and select Invoices or Bills to Pay, and move to the Awaiting Payment tab, customer invoices and supplier bills are shown in their original currencies. You can also use the Search feature in these screens to view the unpaid transactions for a particular contact.

Alternatively multicurrency information is available in the Account Transactions report. We're working towards providing multicurrency options for other reports, but we're unable to say when these options will be available.

You also asked about sending customer statements. When you send a customer statement for a customer who's transactions are in a foreign currency, the statement will show the items and balance in their original currency, instead of your organisation's base currency.

If the customer's invoices are in more than one currency, the statement will show a separate list for each currency, with a total per currency.

I've included links to our support articles for more information.

Xero Central articles:

Send a customer statement

Account Transactions report

Select settings in a report

Kind regards

Paul

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Beverley Masters commented · 19 January, 2023 22:16 · Report

critical for us as we use multiple currencies

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Jessica Wicks commented · 19 January, 2023 04:25 · Report

Critical to be able to share information with the customer - particularly where we want to be able to run the AR filtered by Group. Struggling to understand why you've released 'groups' when there is almost nothing useful that can be done with it. It's a bit like you have built out the DSO metric but you can only see it by going into each contact, you can't get it included in any sort of report. Daft and a waste of time for the Dev team to build a useless feature that cannot be reported on. Please get both of these sorted ASAP

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Bipin Shah commented · 18 January, 2023 10:34 · Report

Not sure why this is not possible even when paying extra for premium subscription

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Marise Lincoln commented · 18 January, 2023 10:11 · Report

Very important, especially as we pay for multicurrency and we used to be able to check the source currency under Bills due, but this feature was recently removed!! Inexplicable. Then had the nerve to tell me to lodge a development request idea to have the previous functionality turned back on, with no time line to deliver/reinstate.

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