Documents in the counterparty's currency
Invoices in the customer's currency, bills in the supplier's, each booked at its own day's rate and kept in transaction currency for the counterparty's statement.
Exporters and importers
A single entity that buys and sells in currencies other than its own: foreign-currency invoices and bills, currency bank accounts, realised differences on every settlement, no consolidation.
Typical roles
Also built for
What changes for this team
configured at rolloutA distributor buying from Asian suppliers and selling to European customers, a manufacturer exporting most of what it makes, a commodity trader. Each is one legal entity with one functional currency and most of its receivables, payables and cash in something else. This customer has no group to consolidate and every reason to know its exposure. The configuration.
Currency bank accounts
A euro account for European receipts, a dollar account for supplier payments, each reconciled in its own currency, with the Cash Position showing every account in its currency and in functional currency at today's rate.
Realised difference on every settlement
Each application separates the document amount from the cash amount and releases the corresponding carrying value. Prior revaluation is accounted for before the remaining settlement difference is posted, with each amount traceable to its source.
Exposure as a report
The Foreign Currency Exposure report nets open invoices, bills and bank balances per currency, at booked value and at today's rate, which is what the treasury analyst hedges outside the system.
Revaluation at month end
Open monetary balances and currency accounts are revalued at the approved closing rate. The chosen reversing or Delta method retains item-level allocations so later partial settlements do not recognise the same exchange movement twice.
Consolidation switched off
One entity, no eliminations, no translation; the intercompany module is idle until a second entity appears.
Multi-currency close for this team
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01
Closing rates
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02
Reconcile
Approval requiredDocuments in the counterparty's currency · Currency bank accounts · Realised difference on every settlement · Exposure as a report
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03
Revalue
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04
Review
Approval required -
05
Post
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06
Consolidate
Approval requiredRevaluation at month end · Consolidation switched off
Same records, same gates. The configuration changes how the process runs for this team.
Workspace previews
UnrealisedGainLoss != 0RevaluationRun.StatusCalculatedPendingApproval
StatusReceivedPartiallyAppliedUnapplied
StatusPostedSentPartiallyPaidCurrency != Entity.FunctionalCurrency
Typical roles
Roles and permissionsOwns 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.
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.
Prepares manual journals, accruals and prepayments, bank reconciliations and the entity close tasks the Controller approves.
External or internal auditor. Read-only across the platform with access to the closing binder, revaluation workings and the audit trail.
Modules
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Revaluation
Restate foreign-currency balances with clear sign conventions, item-level carrying values and independent approval.
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General ledger
Keep transaction amounts, functional values and approval evidence together across journals, close adjustments and group reporting.
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Banking
Reconcile each bank account in its own currency, recognise unmatched cash and retain the evidence behind transfers and payment outcomes.
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Receivables
Keep customer balances, cash received and exchange differences clear across invoicing, collection and settlement.
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Intercompany and consolidation
Agree cross-entity activity, preserve each company’s books and review translation and eliminations in the group reporting currency.
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Currencies and rates
Keep the source, purpose and approval behind every exchange rate, from document posting to group reporting.
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Payables
Review supplier bills and payment authority, then reconcile cash, withholding and exchange differences without losing the original evidence.
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Period close
Coordinate close dependencies, review supporting workings and keep reporting periods separate from later postings.
Relevant reports
Reports and dashboardsForeign Currency Exposure
Net 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.
AR Aging
Open 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.
FX Gain and Loss Summary
Posted 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.
Common questions
All questionsWhich exchange rate does a document use?
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.
Related questionHow are settlement and revaluation differences kept apart?
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.
Related questionCan entities have different year-ends?
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.
Related questionHow does intercompany work across currencies?
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.
Related questionWhich rates does consolidation use?
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.
Related questionDoes it include hedge accounting?
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.
Related questionHow long does implementation take?
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.
Related questionOther industries
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Industry
Groups with subsidiaries abroad
A parent and several subsidiaries, each with its own functional currency and calendar, consolidating monthly into one reporting currency with intercompany traffic between them.
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This page
Exporters and importers
A single entity that buys and sells in currencies other than its own: foreign-currency invoices and bills, currency bank accounts, realised differences on every settlement, no consolidation.
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Industry
Global services and software firms
Consultancies, agencies and software companies billing customers in many currencies from entities in a few, with high invoice volume, subscription and milestone billing, and recharges between entities for shared staff.
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Industry
Shared-service finance centres
One finance team closing many entities in many currencies on behalf of a group, with segregation by entity, one checklist per entity and one dashboard across them.