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

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    79 comments  ·  For small businesses » Accounting features  ·  Admin →
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    submitted  ·  AdminKelly Munro (Community Manager, Xero) responded

    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.

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    Alison Watson commented  · 

    I've been requesting this for coming up 10 years now.

    Journals in non-base currency should be available in a multi-currency accounts package. (SOs and POs are possible in any currency, why not journals?)

    For us, we have deferred income every year (holidays booked in advance of the next financial year) over 15 chalets. Each chalet has gross sales, sales discount and agent commission. Sales are taken in GBP. Our base currency is EUR. The journals in EUR on Day 1 of the new FY distort our real sales figures as the sales are made over the previous 5 months and all journalled back to the P&L at the ex rate on 1 May.

    You say there's no work planned for 2023. Are there plans for 2025?

    Alison Watson supported this idea  ·