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

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   104 comments  ·  Reports & tax » Manual journals  ·  delete…  ·  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 surrounding this idea we'll share an update with all of you here.

   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… more

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   Mark Jayasinghe commented  ·  09 February, 2024  ·  Edit…  ·  delete…

   I'd really like to see this feature incorporated into Xero....I currently have an asset denominated in another currency (a convertible note) and as this has now converted I need to move it to an Invesment account....it seems I can't journal in another currency or create an asset account in another currency (either would do)...Xero....lot's of people asking for this one and even if manual journals in FX isn't such a straightforward development, I would have thought an account denominated in a foreign currency isn't so difficult (as you have this already.....)

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