Hi!
I use USD as base currency. I also transact in BTC, SGD and HKD.
Is it possible to print a report in a currency other than the base currency? If not, this would be incredibly helpful since the exchange rates already are in manager and I update them on a regular basis.
Many thanks
That depends on what you mean by “print a report.” In general, financial reports are presented in your base currency, converted according to the exchange rates you have entered. That is necessary for consistency. You can’t for example, have cash at the bank reported in USD and loan balances in Euros. The reports would be useless.
Lists for bank and cash accounts, customer transactions or statements, etc., that were originally denominated in different currencies will show up in those currencies. Exports of those lists will be in the foreign currency.
What I am asking is if I can print reports, from the reports tab, in a currency other than the base currency? From your answer it seems it is not possible?
Do you meant, can print reports for multiple defined type of currency respectively?
Yes, for example I have a SGD bank account so this currency is enabled. The base currency is USD.
I would like the option to print a report in SGD, with the exchange rates I have been entering throughout the reporting period used to convert the amounts from USD to SGD.
You cannot do that.
Why not?
Reports will generally display the current balance of a bank account in the currency that the bank account uses.
Your financial position is represented by the amount of money you have in a certain currency, in a certain bank account. Any conversions using exchange rates would be an estimate only.
That said, we are users just like you - and can only speculate as to why a certain feature doesn’t exist in the application yet. Most likely, this one just hasn’t been requested by many users yet / isn’t in high demand.
Edit: You might find this topic interesting: General Ledger Report for multi currency business - it’s the closest thing I can find to what you’re asking for.
Because such a report would not be a factual and accurate representation of your accounting position and could not be reconciled or audited against supporting documentation/information. While you may have entered exchange rates, those are variable by source even at a given instant. The fact is that accounting records are kept in a designated currency. Thus, you can obtain transaction lists of a USD bank account in USD and a HKD account in HKD, but not the other way around. There are bank statements supporting the two different accounts only in their designated currencies.
On the other hand, there are no records supporting the cost of a fixed asset purchased in your base currency in some other currency. Nor are there records of expenses purchased in HKD converted to USD. You can easily manipulate exported data in a spreadsheet if you want to perform such experiments, but they serve no accounting purpose no matter how interesting they are to you personally.