Finance · Multi-currency Accounting
Follow the accounting from the source transaction through posting, reconciliation and close. Keep the detail within reach.
Source to posting.
Entity to group.
See what posts, who acts and which records preserve the evidence.
Read the accounting controls| Stage | Posting | Responsibility |
|---|---|---|
| Invoice | none | AR Clerk |
| Post and send | receivable debit; revenue and tax payable credit | AR Clerk |
| Collect | none | AR Clerk |
| Receive | bank debit; unapplied cash credit | AR Clerk |
| Apply | unapplied cash and withholding receivable debit; receivable credit; residual FX | AR Clerk |
| Credit and write-off | approved revenue reduction or bad debt debit; receivable credit | AR Clerk or Controller |
Process / Invoice to cash in a foreign currency
Follow the invoice through receipt and application, with the records and responsibilities behind each step.
AR Clerk
AR Clerk raises the invoice with its customer, currency, due date, revenue account, cost centre and tax treatment. Credit checking uses the customer's limit currency. Tax Specialist maintains the configured jurisdiction rules; any authority-prescribed conversion is retained separately from the accounting rate.
AR Clerk
AR Clerk posts using the approved document-date spot or contract rate. The journal records receivable, revenue and tax in functional currency. Missing or overridden rates follow the exception controls before posting. The invoice keeps the rate used; sending it is a separate delivery step.
receivable debit; revenue and tax payable credit
AR Clerk
AR Clerk reviews aging and disputed balances. Configured dunning rules determine reminders and escalation; disputed invoices remain excluded. The original invoice-currency balance does not change merely because exchange rates move. Exposure reporting distinguishes current conversion from the ledger's carrying value.
AR Clerk
AR Clerk records the money received on a bank account in that currency, from a validated statement line or manual entry. Receipt posts bank debit and unapplied-cash credit immediately. Customer identification and allocation may follow later; neither delays recognition of the cash movement.
bank debit; unapplied cash credit
AR Clerk · Approval required
AR Clerk confirms proposed applications. Each line records the invoice amount settled, cash consumed in receipt currency, the conversion between them and any withholding in invoice currency. It clears the receipt's allocated current unapplied carrying value plus withholding receivable against the invoice's current carrying amount. The residual is realised FX; allocated revaluation adjustments are released from item tracking without a second gain or loss.
unapplied cash and withholding receivable debit; receivable credit; residual FX
AR Clerk or Controller · Approval required
An AR Clerk other than the preparer approves credit memos within their authority; Controller approves credits above that limit and every write-off. The comparison uses a recorded amount converted into the decision-maker's limit currency. Credit, reversal and write-off evidence stays linked to the original invoice; delegation does not bypass authority or conflict checks.
approved revenue reduction or bad debt debit; receivable credit
Finance · Available now
Manage your books across entities and currencies, with clear visibility from individual transactions to group results.
Controller: Approve JournalEntries, RevaluationRuns, BankReconciliations, Bills and credit memos above clerk limits, PayRuns and urgent PaymentsMade above AP Clerk limit, disputed IntercompanyTransactions, DepreciationRuns, AllocationRuns, AssetMovements, RateOverrides, ApprovalDelegations and waived CloseTasks
Approval waits for the controller.
Illustrative preview · actions are unavailable here.
Illustrative records derived from the system specification.
Controllers and finance teams managing international operations.
Defined in the planned system specification.
Manage your books across entities and currencies, with clear visibility from individual transactions to group results.
Keep transaction amounts, functional values and approval evidence together across journals, close adjustments and group reporting.
Keep the source, purpose and approval behind every exchange rate, from document posting to group reporting.
Restate foreign-currency balances with clear sign conventions, item-level carrying values and independent approval.
Keep customer balances, cash received and exchange differences clear across invoicing, collection and settlement.
Review supplier bills and payment authority, then reconcile cash, withholding and exchange differences without losing the original evidence.
Reconcile each bank account in its own currency, recognise unmatched cash and retain the evidence behind transfers and payment outcomes.
Agree cross-entity activity, preserve each company’s books and review translation and eliminations in the group reporting currency.
Coordinate close dependencies, review supporting workings and keep reporting periods separate from later postings.
Controller: Approve JournalEntries, RevaluationRuns, BankReconciliations, Bills and credit memos above clerk limits, PayRuns and urgent PaymentsMade above AP Clerk limit, disputed IntercompanyTransactions, DepreciationRuns, AllocationRuns, AssetMovements, RateOverrides, ApprovalDelegations and waived CloseTasks
Approval waits for the controller.
Illustrative preview · actions are unavailable here.
Illustrative preview · actions are unavailable here.
Illustrative preview · actions are unavailable here.
Controller: Approve JournalEntries, RevaluationRuns, BankReconciliations, Bills and credit memos above clerk limits, PayRuns and urgent PaymentsMade above AP Clerk limit, disputed IntercompanyTransactions, DepreciationRuns, AllocationRuns, AssetMovements, RateOverrides, ApprovalDelegations and waived CloseTasks
Approval waits for the controller.
Illustrative preview · actions are unavailable here.
Illustrative preview · actions are unavailable here.
| Pay Run Number | Entity | Bank Account | Currency | Payment Date |
|---|---|---|---|---|
| PR-34120 | ENT-5066 | BA-41468 | CRR-4133 | 05 Oct |
| PR-27316 | ENT-7217 | BA-73412 | CRR-2630 | 05 Oct |
| PR-20415 | ENT-8695 | BA-38264 | CRR-7635 | 02 Oct |
| PR-19615 | ENT-7678 | BA-36256 | CRR-6757 | 02 Oct |
| PR-65587 | ENT-6943 | BA-78845 | CRR-3634 | 24 Sep |
| PR-81202 | ENT-9105 | BA-24513 | CRR-6018 | 30 Sep |
| From Currency | To Currency | Rate Type | Effective Date | Rate |
|---|---|---|---|---|
| CRR-4856 | CRR-4510 | Spot | 02 Oct | 390 |
| CRR-6695 | CRR-7506 | Average | 15 Oct | 90 |
| CRR-8456 | CRR-6781 | Closing | 26 Sep | 40 |
| CRR-2603 | CRR-8182 | Budget | 18 Oct | 580 |
| CRR-6577 | CRR-3567 | Spot | 13 Oct | 40 |
| CRR-1003 | CRR-4211 | Average | 28 Sep | 360 |
| Bank Account Number | Name | Entity | Currency | Account Type |
|---|---|---|---|---|
| BA-29568 | Account 567 | ENT-3707 | CRR-4213 | Operating |
| BA-40494 | Account 369 | ENT-6844 | CRR-4576 | Collections |
| BA-45094 | Account 938 | ENT-9400 | CRR-7455 | Payroll |
| BA-51634 | Account 791 | ENT-7042 | CRR-6053 | Savings |
| BA-14378 | Account 667 | ENT-6858 | CRR-5796 | Lockbox |
| BA-65957 | Account 111 | ENT-3363 | CRR-6188 | Operating |
Indirect method: operating, investing and financing activities derived from balance-sheet movement with non-cash items added back, including the effect of exchange rate changes on cash held in foreign currencies.
opens Cash Position| Bank Account Number | Name | Entity | Currency | Account Type |
|---|---|---|---|---|
| BA-29568 | Account 567 | ENT-3707 | CRR-4213 | Operating |
| BA-40494 | Account 369 | ENT-6844 | CRR-4576 | Collections |
| BA-45094 | Account 938 | ENT-9400 | CRR-7455 | Payroll |
| BA-51634 | Account 791 | ENT-7042 | CRR-6053 | Savings |
ownerTreasury Analyst
Go from the big picture to the records behind it. This example connects a report, its source view and one illustrative record.
Illustrative records. Connections and approval states follow the authored specification.
Bring every currency into focus.
Illustrative previews from the system specification.
Start with the approved rates for each currency and reporting period.
Multi-currency period closeMatch cash movements and resolve differences before reviewing your foreign-currency balances.
Start revaluation from reconciled balances. The controller independently approves the bank reconciliations before the close moves forward.
Multi-currency period closeSee how exchange-rate changes affect the monetary balances still on your books.
Revaluation runGive your controller the calculations and exceptions needed to approve the close adjustments.
Review the proposed exchange adjustments before they reach the ledger. The controller checks the supporting calculations independently of the preparer.
Revaluation runPost approved adjustments and complete the checks for each entity's close.
Multi-currency period closeBring entity results into your reporting currency with reviewed eliminations and group sign-off.
Give group reporting a clear sign-off. A controller independently reviews translated balances and eliminations before the consolidation is locked.
Consolidation and translationDecision checkpoints where approval stays with your team.
Start revaluation from reconciled balances. The controller independently approves the bank reconciliations before the close moves forward.
Multi-currency period closeReview the proposed exchange adjustments before they reach the ledger. The controller checks the supporting calculations independently of the preparer.
Revaluation runGive group reporting a clear sign-off. A controller independently reviews translated balances and eliminations before the consolidation is locked.
Consolidation and translationHuman approval and system automation have different jobs.
Start revaluation from reconciled balances. The controller independently approves the bank reconciliations before the close moves forward.
Review the proposed exchange adjustments before they reach the ledger. The controller checks the supporting calculations independently of the preparer.
Give group reporting a clear sign-off. A controller independently reviews translated balances and eliminations before the consolidation is locked.
Owns the trial balance, the close and the consolidated statements. Approves what the GL Accountant, the Treasury Analyst and the clerks prepare: manual journals, revaluations, reconciliations, bills and credit memos above the clerk limit, pay runs above the clerk limit, and the period close itself.
Prepares manual journals, accruals and prepayments, bank reconciliations and the entity close tasks the Controller approves.
Owns currencies, exchange rates, bank accounts, transfers between currency accounts and the month-end revaluation. Prepares what the Controller approves.
Processes vendor bills in the vendor's currency, checks them against the order and receipt references, and builds pay runs.
Raises customer invoices and credit memos in the customer's currency, applies cash at the receipt rate and runs dunning.
Loads and maintains budget versions in entity currency, runs allocations and reads variance in reporting currency.
Owns tax codes, jurisdictions, filings and the tax accrual.
External or internal auditor. Read-only across the platform with access to the closing binder, revaluation workings and the audit trail.
Start with the question. Follow it to the records behind the answer.
All GL accounts per entity per period with opening balance, debit and credit movement and closing balance in functional currency, with a reporting-currency column at the period's translation rates; drills from summary account to account to source journal lines.
View Unrealised FX by AccountAssets, liabilities and equity rolled up per entity and consolidated, comparative to prior period and prior year, in functional or reporting currency, with the fixed-asset roll-forward as a supporting schedule.
View Unrealised FX by AccountRevenue, cost of sales, operating expense, other income and expense, tax and net income per entity and consolidated, month, quarter-to-date and year-to-date, with realised and unrealised exchange differences shown on their own lines.
View Tax Filing CalendarIndirect method: operating, investing and financing activities derived from balance-sheet movement with non-cash items added back, including the effect of exchange rate changes on cash held in foreign currencies.
View Cash PositionPer account, one column per entity in reporting currency from the translated balances, an eliminations column, a non-controlling interest column and the consolidated column, for a locked or calculated run; each elimination drills to the entry and the transaction it removes.
View Unrealised FX by AccountOpen invoices in buckets of days past due by customer and entity, in transaction currency and posted functional carrying value, with a separate indicative current-rate column; the booked column reconciles to the AR control account.
View Open Foreign-Currency InvoicesOpen bills in buckets of days past due by vendor, entity and currency, feeding the pay-run schedule and the forecast of foreign-currency cash needs.
View Open Foreign-Currency InvoicesPosted residual settlement and bank-disposal FX plus posted revaluation FX, per entity, currency and period. RevaluationReleased is a carrying-value allocation and is not added to P&L again; any optional lifetime presentation identifies previous-period recognised FX separately.
View Revaluation Runs Awaiting ApprovalNet open position per entity per foreign currency: receivables plus bank balances plus intercompany receivables less payables, loans and intercompany payables, in the foreign currency, at booked functional value and at today's rate, so the treasurer knows what is unhedged before the pay run.
View Open Foreign-Currency InvoicesEvery entity pair and currency for the period with each side's balance, the difference and the agreement status, drillable to the transactions in the period with both entities' booked amounts, so the consolidation cannot start with an unexplained difference.
View Intercompany MismatchesPer account per cost center, budget, actual, variance and variance percent for period, quarter-to-date and year-to-date, in entity currency or translated at the budget rate for the group view.
View Journal Entries Awaiting ApprovalLet your AI agent help with everyday work. Set its permissions during setup and keep approvals with your team.
List the work that needs attention. Keep the approval with the assigned reviewer.
Download Proto Agent setup guide$ curl -fsSL https://www.erp.ai/skill.md
› open Multi-currency Accounting and list records waiting on reconcile
Multi-currency close · records listed with owner and age
› approve the first one at reconcile, as its approverHow the system works, what you can configure and how to get started.
Click Start now, then use Proto to configure Multi-currency Accounting for your business. Set up your workflows, import your data and invite your team.
The configured policy selects the rate type and effective date. The document retains the rate used at posting. A missing required rate stops the affected posting until it is resolved; it does not silently reuse yesterday's rate. Authorised overrides retain the original rate, reason and decision evidence. Posted amounts are corrected through reviewed adjustments or reversals.
Applications retain amounts in both document and settlement currency. The ledger compares settlement value with the carrying value released, including any unreversed revaluation allocated to that portion. Reversing and Delta methods are reconciled separately so an earlier exchange difference is not recognised twice. The FX Gain and Loss Summary traces the amounts to the application and revaluation evidence.
Yes. Each entity has its own periods. Group reporting maps those periods to the consolidation calendar, and intercompany postings use a valid period for each side. The mapping and any reporting adjustments are reviewed during implementation.
Both sides share a transaction currency and amount, while each entity retains its own functional-currency value and posting period. A separate authorised person confirms the receiving side. Differences are investigated and approved adjustments remain traceable before the group eliminates the agreed balances.
The account policy selects closing, historical or transaction-date rates. An average rate is used only where it is an appropriate approximation. The run retains the applied rates and translated balances, with reviewed eliminations and translation adjustments in the group unit. Special reporting requirements are scoped and verified during implementation.
Yes, subject to configuring and testing the required connection. Agree document mapping, external identifiers, approval ownership and retry handling. Purchase-order and receipt checks can remain in the procurement system; a reviewed non-PO route handles bills that do not require those references.
Hedge accounting and derivative valuation are outside this system's baseline. Your treasury system can supply reviewed journals and rates through a configured integration. Confirm the required accounting and reporting treatment with the finance owner.
The plan depends on your entity structure, source data, integrations and reporting deadlines. Agree the milestones after a migration assessment, then launch each entity when its reconciled opening balances and close rehearsal have been accepted.
Yes. Fields, rules, approval steps and modules can be adapted with Proto on a branch you review before release. Changes to currencies, posting policies or entity structure need finance review and regression checks against representative transactions.
An agent can be configured with its own identity, role and entity scope to prepare drafts and investigate exceptions. Approval and payment decisions remain with the assigned people. Test the permitted actions during implementation; agent and model usage are metered.
There are no per-user fees for ordinary manual work in ERP.AI's official interface. Prepaid credits cover metered services and never expire. Implementation is priced separately, and model usage and the Proto Agent fee are additional. The pricing page has the full rate card.
Move your books with a controlled migration, a rehearsed close and a launch plan for each entity.
Read the implementation planAgree the functional and reporting currencies, ownership and group consolidation unit. Map each entity's calendar to group reporting periods. Review the chart, monetary-account flags, rate policies and historical equity rates. Assign owners for tax configuration, approval limits, bank controls and the close checklist. Record which local reporting requirements need additional configuration or external specialist review.
Tax SpecialistSet entity access, approval limits in each person's limit currency, delegation rules and separation of duties. Load currencies, accounts and entity references in dependency order, followed by periods, rates, bank accounts and contacts. Verify vendor bank details and supported bank formats. Test missing-rate handling and approved rate overrides before loading transactions.
Team and ERP.aiUse representative invoices, bills, partial settlements and bank movements. Exercise a receipt awaiting allocation, a returned payment and a corrected application. Reconcile the banks before revaluation, then review postings and consolidation. Check that Delta and reversing revaluation methods clear settlements without counting prior exchange differences twice. Each role rehearses its approvals and exceptions.
Team and ERP.aiLoad the approved opening trial balance and imported open documents against a documented cutover schedule. Load imported open items without posting and include their reconciled control balances in the opening journal. Link each item to that journal and its migration batch. Do not post the same balances again when importing the documents. Reconcile original foreign amounts, current carrying values, accumulated revaluation, unapplied cash, assets and intercompany balances to the old ledger before any live posting.
Team and ERP.aiLaunch each entity after its finance owner signs off the rehearsal and reconciled opening balances. Define the reporting bridge for entities still in the old system and prove it before the first group consolidation. Freeze the old ledger at the agreed cutover and retain its evidence for audit access.
Team and ERP.aiReview the first close, rate-feed exceptions and bank acknowledgements with the users who handle them. Tune matching rules against reviewed outcomes, verify each additional integration and update the close checklist through change control.
Team and ERP.aiThe base account and ordinary manual work in ERP.AI's official interface are $0. Viewing, searching, creating, editing, approving, deleting and exporting records in that interface do not consume read or write credits. There is no per-user fee.
Machine work: external API-key requests, imports, workflows, agents and scheduled jobs. Successful external API-key reads and writes use the operation rates below. Starting a managed execution from the interface still starts that metered service.
Pricing and account rules| Machine work | Included per $1 of credit |
|---|---|
| List/filter or get record calls | 20,000 |
| Search or aggregate calls | 4,000 |
| CSV or PDF exports | 100 |
| Record writes | 4,000 |
| Imported or synced records | 200,000 |
| File upload in MB | 2,000 |
| Workflow runs | 2,000 |
| Code-node compute beyond included in CPU-sec | 12,000 |
| Agent executions | 2,000 |
| Scheduled jobs or webhook activations | 20,000 |
Read and write rates apply to successful external API-key requests. Ordinary manual work in the ERP.AI interface is $0.
prepaid creditsSmallest pack $5, purchased credits never expire.
Follow the operating model from the process to the people, records and decisions behind it.
Connected operations
