In this article

    Multi-Currency Accounting for Nonprofit Organizations

    Double-Entry Accounting with foreign currencies

    Start FOR FREE the accounting of your association and immediately get the income statement and the balance sheet. This easy and ready-to-use template is ideal for people who have to manage accounts in multiple currencies for business relationships with foreign countries or international projects. Your data remains private on your PC and you don't need to register.

    Open in Banana WebApp

    Run Banana Accounting Plus on your browser without any installation. Customize the template, enter the transactions and save the file on your computer.

    Open template in WebApp Open tutorial in WebApp

    Template documentation

    This template presents a brief chart of accounts with descriptive accounts that facilitate data entry. Get the Income Statement and Balance Sheet quickly, manage members and projects.

    For more information on solutions for associations go to the Accounting for non-profit organizations page.

    Create your file

    • Create a new file, starting from this template (Template ID  +10621), using one of the methods explained. 
    • With the command File → File properties, set the period, the company name and the basic currency.
    • With the command File → Save as, save the file. Enter the company name and year in the file name.
      For example "association-2022.ac2".

    See also Organize accounting files locally, online or in the cloud

    Enter the Transactions

    Register the liquidity transactions in the journal. Enter the date, the document number and the description. Enter the destination account into the Debit Account column, and  the account of origin in the Credit Account column. Then add the amount and specify the currency.

    You can modify the journal at any time.

    Click here to learn more about transactions.


    Check and customize the Accounts table

    Once you have entered the transactions, you can check the Accounts table. You will have an overview of your assets, liabilities, income and expenses, which allows you to keep your balance under control.

    accounts assets liabilities

    Get the Profit and Loss Statement and the Balance Sheet

    At any time of the year you can create your balance sheet, which is a financial report of your assets, liabilities and equity and the profit and loss statement, which includes income and expenses. You can also compare your current situation with the budget to understand if and where you are spending excessive amounts of money.

    balance sheet

    profit loss statement

    Template preview

    Association XX

    Basic Currency: EUR

    Double-entry with foreign currencies

    Table: Accounts
    Group Description Currency Sum In
        BALANCE SHEET    
      Cash Cash EUR Assets
      Bank EUR Bank Current Account EUR EUR Assets
      Bank USD Bank Current Account USD USD Assets
      Bank GBP Bank Current Account GBP GBP Assets
      Post Post Current Account EUR Assets
      Office Forniture Office Forniture EUR Assets
      Computer and Software Computer and Software EUR Assets
      Car Car EUR Assets
    Assets   Total Assets   00
      Suppliers Suppliers EUR Total Liabilities
      Visa Credit card loan EUR Total Liabilities
      Loan Bank loan EUR Total Liabilities
      Start-up Capital Start-up Capital EUR Total Liabilities
      Brought forward profit or loss Brought forward profit or loss EUR Total Liabilities
    Profit or loss of the current year   Profit or loss of the current year   Total Liabilities
    Total Liabilities   Total Liabilities   00
      Donations Donations EUR 4
      Membership Membership payments EUR 4
      Sales Various Sales EUR 4
      Other Income Other income EUR 4
      Exchange rate profit Exchange rate profit EUR 4
    4   TOTAL INCOME   Result
      Office Supplies Office supplies, printing material, photocopies EUR 3
      Postal Fees Postal fees EUR 3
      Rent Rent EUR 3
      Electricity Elecricity EUR 3
      Water Water EUR 3
      Teleohone and Fax Telephone and fax EUR 3
      Internet Internet EUR 3
      Publicity Publicity, flyers, printing EUR 3
      Cleaning Cleaning EUR 3
      Maintenance and repairs Maintenance and repairs EUR 3
      Goods and materials Goods and materials EUR 3
      Salaries Personnel expenses EUR 3
      Social Insurance expenses Social Insurance expenses EUR 3
      Vehicle and transport Vehicle and transport costs EUR 3
      Refund Volunteers Refund to volunteers EUR 3
      Fees and Permits Fees and other permits EUR 3
      Unexpected expenses Unexpected expenses EUR 3
      Unregistered expenses Small unregistered expenses EUR 3
      Other expenses Other expenses EUR 3
      Exchange rate loss Exchange rate loss EUR 3
    3   TOTAL EXPENSES   Result
    Result   RESULT   Profit or loss of the current year
    00   Difference should be = 0 (blank cell)    
        COST CENTERS    
      ;MA Montgomery Alexander EUR TM
      ;WB Weelt Bob EUR TM
      ;JB Johnson Bill EUR TM
      ;RJ Ross Jeremy EUR TM
    TM   Total members    
      :Project A Project A EUR TP
      :Project B Project B EUR TP
      :Project C Project C EUR TP
    TP   Total projects    
    Table: Exchange rates
    Ref.Currency Currency Text
    EUR USD Dollar
    EUR GBP Pound Sterling
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