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Dear Xero Product Team,

I am writing to formally propose an important enhancement to Xero’s reporting functionality, particularly for organizations operating in multi-currency environments.

Our organization operates in Nigeria, where the functional (base) currency is Naira (NGN), but a significant portion of our transactions — including partner cash calls, vendor payments, and funding arrangements — are denominated in United States Dollars (USD). As a result, both currencies are critical for financial reporting and decision-making.

Currently, Xero only presents financial reports (such as Trial Balance, Profit & Loss, and Balance Sheet) in the base currency. While foreign currency transactions are supported, there is no capability to generate reports that display both base currency and transaction currency values simultaneously.

This creates the following challenges:

1. Loss of Value Representation Due to Repeated Conversions
   Transactions initially recorded in USD are repeatedly converted using varying exchange rates over time. For example, a USD 1,000 cash call received at the beginning of the year may appear as USD 950 or less in equivalent terms by year-end due to exchange rate movements. This does not reflect the true transactional value and creates inconsistencies in financial interpretation.

2. Audit and Financial Integrity Concerns
   The inability to report original currency values alongside base currency has raised concerns during audit review. There is a risk that financial statements may be perceived as lacking integrity, not due to incorrect postings, but due to system limitations in preserving and presenting original currency values clearly.

3. Operational Inefficiency
   To address this limitation, we are forced to rely heavily on manual Excel workarounds to reconstruct dual-currency reports. This introduces inefficiency, increases the risk of error, and reduces confidence in the reporting process.

Proposed Enhancement

We propose that Xero introduces a Dual-Currency Reporting Feature across key financial reports, including:

• Trial Balance
• Profit & Loss
• Balance Sheet

This feature should allow reports to display:

• Base Currency Amount (e.g., NGN)
• Transaction Currency Amount (e.g., USD)
• Currency Type (USD, NGN, etc.)
• Optional: Applicable Exchange Rate

This would enable users to view both values simultaneously in a single report, without the need to run multiple reports or rely on external tools.

Business Impact

This enhancement would:

• Improve transparency and integrity of financial reporting
• Eliminate misleading fluctuations caused by exchange rate revaluations
• Enhance audit confidence and compliance
• Support industries with significant foreign currency exposure (e.g., oil & gas, import/export, and multinational operations)
• Reduce reliance on manual reconciliations outside Xero

Conclusion

Xero has strong multi-currency transaction capabilities, but the reporting layer does not yet fully support the needs of organizations operating across currencies. Introducing dual-currency reporting would significantly strengthen Xero’s position for medium to large organizations in emerging and multi-currency markets.

We strongly encourage the product team to consider this enhancement as a priority.

Please see attached sample report layout demonstrating proposed dual-currency reporting structure.

Thank you for your continued efforts in improving the platform.

Kind regards,
Okusonogu Columbus Nduka