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1 vote
Thanks for submitting your idea on Xero Product Ideas. We appreciate you taking time to let us know how we could improve Xero for you.
Your feedback will soon be reviewed by our Community team, and in the meantime this can begin to build support with votes from other community members.
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Lorraine Laplante
shared this idea
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375 votes
Hi community, first off thank you for contributing and detailing why posting manual journals in a foreign currency is of interest to you all.
We appreciate our customers would like to see more capability in accounting for and dealing in foreign currencies across Xero.
In it's current form Manual Journals are a part of Xero that require some upgrade to uplift technology in order to provide capability for ideas like this to be considered. We have intentions of bringing attention to this over the coming year, however getting this done first is necessary before we can even think about adding newer functionality like journaling in another currency to the mix.
To set the expectation here, there is no work planned over 2023 for this feature. We know it's of high interest and when we're in a place to reassess we will share with you here.
An error occurred while saving the comment Lorraine Laplante
supported this idea
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386 votes
Hey team, thanks for all your input on partial asset disposal.
We understand that manually managing parts of an asset can be time-consuming. While we don't have plans at this time to develop a built-in feature, your feedback's really helpful in showing us where things could improve.
For now, manual methods to calculate depreciation and record journal entries to keep things accurate would be the best option.
However, this is a feature that we'd like to revisit as we plan our future roadmaps, and will be happy to share if there is any traction around this. Please keep sharing this idea with any colleagues you feel could benefit from this too.
An error occurred while saving the comment Lorraine Laplante
commented
Agreed, this is a basic critical feature that should be part of any accounting program, this needs addressing. This causes imbalance in fixed asset module if people start using manual entries to fix costs and accumulated depreciation to avoid the removal of complete asset to add back in partial (which makes no accounting sense)
Lorraine Laplante
supported this idea
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Allow journal entries to be entered in foreign currency and converted to base currency as some companies need to report in both when shareholder company is in one country but operating company is in a different country, difficult to reconcile due to/from and inter-company transactions when the two companies are in different currencies