Foreign Currency Reporting - How To
The guide explains that before running foreign currency reports in Crunchafi, users must enter exchange rates for each currency and month within the report's date range, including both directions of currency pairs, and for leases with different local or reporting currencies, all relevant local-to-functional exchange rates must be provided to ensure accurate translation, with rates after the GL End Date defaulting to the GL End Date rates.
Administration
Before running your report, add the exchange rates (Administration → Currency) for each currency and for each month within the date ranges of your reports. You can simplify your entry by selecting the option to Default Average Rate to previous month's EOM rate.
Note: When running reports, you might need to translate from one currency and back again. Both need to be entered for the reports to run properly. Example: CNY to USD and USD to CNY.
My Leases
Functional Currency Translation
For leases with different local currencies but the same functional currency, all local to functional exchange rates must be entered for this date range in order for this report to work correctly. For months listed after the GL End Date, Crunchafi software uses the GL End Dates rates for translation.
Reporting Currency Translation
For leases that need to be translated into a reporting currency, leases are in multiple currencies and one might need to be translated into another currency before finally being translated into the functional currency. All local to functional exchange rates must be entered for this date range in order for this report to work. For months listed after the GL End Date, Crunchafi uses the GL End Dates rates for translation.