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  1. Chart of Accounts - Ability to assign Foreign Currency to an account

    63 votes

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    submitted  ·  19 comments  ·  Banking & chart of accounts » Chart of Accounts  ·  Admin →
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    Anthony Bradshaw commented  · 

    The FX processing in Xero needs to be completely revised. Additionally, the FX reports are inaccurate and high level

    Anthony Bradshaw supported this idea  · 

  2. Manual Journals - Journal in foreign currency and see FX rate on journal

    396 votes

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    104 comments  ·  Reports & tax » Manual journals  ·  Admin →
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    Accepted  ·  AdminKelly Munro (Community Manager, Xero) responded

    Hi everyone, thanks for all your feedback and highlighting the need for multi-currency manual journals, and being able to see the FX rate directly in the journal.

    We understand the needs in this space have close ties with this idea for being able to journal to bank accounts, and this is something we have intentions of doing deeper discovery around in the longer term. However, we want to be upfront that this work isn't roadmapped right now.

    Though we appreciate not the straight forward approach that you’re after here - currently you can create the journal via a bill in the relevant foreign currency. Entering positive and negative lines for the debit and credit entries, which results in a 0.00 bill total once approved. The bill lines are converted to your organisation’s base currency using the bill’s FX rate, and the transaction won’t revalue.

    As soon as there's movement…

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    Anthony Bradshaw commented  · 

    The whole FX area of Xero needs to be revamped by providing currency journals and a significant improvement in the number of reports and the data in the reports. The right-hand column in the FX report is just rubbish.

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    Anthony Bradshaw commented  · 

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

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    Anthony Bradshaw commented  · 

    The Bank Revaluation account becomes Rubhish without them

    Anthony Bradshaw supported this idea  ·