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    Double-Entry Accounting for a Corporation with foreign currencies

    Universal
    Double-Entry Accounting with foreign currencies
    Business

    Start easily and FOR FREE the double-entry accounting with foreign currencies of your Corporation and get immediately the Income Statement and the Balance Sheet. This ready-to-use generic template can be adapted according to your needs, to also manage the accounting of your company, sole proprietorship, partnership or small or medium business. Banana Accounting Plus is a professional software that is very intuitive and fast to use because it's similar to Excel. If you make mistakes you can always correct until everything is perfect.

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    Company XX

    Basic Currency: USD

    Double-entry with foreign currencies

    Table: Accounts
    Group Description Currency Sum In
        BALANCE SHEET    
             
        ASSETS    
             
        Bank Accounts    
      Business checking USD Business checking account Dollars (USD) USD Bank
      Business checking EUR Business checking account Euro (EUR) EUR Bank
      Business checking GBP Business checking account Pounds (GBP) GBP Bank
      Business savings Business savings account USD Bank
      Payroll checking Payroll checking USD Bank
      Cash Petty Cash - Out of Pocket expenses USD Bank
      Barter Barter checking USD Bank
    Bank   Total Bank Accounts   Assets
             
        Accounts receivable    
    Customers   Accounts receivable (Customers' register)   Receivable
    Receivable   Total Accounts Receivable   Assets
             
        Current Assets    
      Inventory Inventory USD C-Assets
      Undeposited Funds Undeposited Funds USD C-Assets
    C-Assets   Total Current Assets   Assets
             
        Fixed Assets    
      Equipment Equipment USD Fixed
      Furniture Furniture and Fixtures USD Fixed
      Vehicles Vehicles USD Fixed
      Acc-Depreciation Accumulated Depreciation USD Fixed
    Fixed   Total Fixed Assets   Assets
             
        Other Assets    
      Start up Start up costs (accountants use) USD Other
      Acc-Amortization Accumulated Amortization USD Other
      Notes Receivable 1 Notes Receivable 1 (officer, owner, related party) USD Other
      Notes Receivable 2 Notes Receivable 2 USD Other
    Other   Total Other Assets   Assets
             
    Assets   TOTAL ASSETS   00
             
        LIABILITIES    
             
        Accounts payable    
    Suppliers   Suppliers' register   Payable
    Payable   Total Accounts Payable   Liabilities
             
        Credit Cards used to purchase    
      American American Express - Credit card loan USD Cards
      Visa Visa - Credit card loan USD Cards
    Cards   Total Credit Cards   Liabilities
             
        Current Liabilities    
      Accrued Accrued Expenses USD C-Liabilities
      Payroll tax payable Payroll Tax Payable USD C-Liabilities
      Sales tax payable Sales Tax Payable USD C-Liabilities
      Deposits Deposits from Customers USD C-Liabilities
      Portion long term Current portion of long term liabilities USD C-Liabilities
    C-Liabilities   Total Current Liabilities   Liabilities
             
        Long Term Liabilities    
      Loan Bank loan USD Long term
      Notes payable 1 Notes payable1 USD Long term
      Notes payable 2 Notes payable2 USD Long term
    Long term   Total Long Term Liabilities   Liabilities
             
    Liabilities   TOTAL LIABILITIES   00
             
        EQUITY    
      Capital Capital stock / Capital partner USD Equity
      Additional capital Additional Capital Contributed / Additional Paid in Capital USD Equity
      Retained earnings Retained earnings USD Equity
      Opening equity Opening balance equity USD Equity
      Shareholder 1 Distributions shareholder 1 / Dividends / Draws USD Equity
      Brought forward Profit or Loss brought forward USD Equity
    Profit or Loss   Profit or Loss of the current year USD Equity
    Equity   TOTAL EQUITY   00
             
             
        PROFIT/LOSS STATEMENT    
             
        INCOME    
      Services Income from services USD Income
      Products sold Income from parts / products sold USD Income
      Sales write offs Sales write offs USD Income
    Income   TOTAL INCOME   Gross Profit
             
        COST OF GOODS SOLD    
      Materials Materials, Direct product/service costs USD Cost Goods
      Labor Labor costs USD Cost Goods
      Outside services Outside services / Subcontractors USD Cost Goods
      Supplies Supplies costs USD Cost Goods
      Small tools Small tools USD Cost Goods
    Cost Goods   TOTAL COST OF GOODS SOLD   Gross Profit
             
    Gross Profit   GROSS PROFIT   Ordinary
             
        EXPENSES    
      Advertising Advertising, promotion, marketing costs USD Expenses
      Automobile Automobile expenses USD Expenses
      Bank charges Bank service charges USD Expenses
      Cleaning Cleaning USD Expenses
      Contributions Contributions USD Expenses
      Depreciation Depreciation expense USD Expenses
      Discounts Discounts taken USD Expenses
      Subscriptions Dues and subscriptions USD Expenses
      Insurance Auto Insurance, Life, Medical USD Expenses
      Interest expense Interest expense USD Expenses
      Licenses Business licenses and permits USD Expenses
      Maintenance Maintenance and repairs USD Expenses
      Meals Meals and entertainment USD Expenses
      Merchant fees Merchant credit card fees USD Expenses
      Office Office expenses (computer, postage, delivery, supplies) USD Expenses
      Payroll taxes Payroll taxes USD Expenses
      Professional fees Professional fees USD Expenses
      Rent Rental Payments USD Expenses
      Salaries Salaries USD Expenses
      Telephone Telephone, Fax USD Expenses
      Travel Travel USD Expenses
      Utilities Utilities USD Expenses
    Expenses   TOTAL EXPENSES   Ordinary
             
    Ordinary   NET ORDINARY INCOME   Result
             
        OTHER INCOME    
      Interest income Interest income USD O-Income
      Profit exchange Profit on Foreign Exchange USD O-Income
    O-Income   TOTAL OTHER INCOME   Result
             
        OTHER EXPENSE    
      Ask accountant Ask accountant USD O-Expense
      Loss exchange Loss on Foreign Exchange USD O-Expense
    O-Expense   TOTAL OTHER EXPENSE   Result
             
    Result   NET INCOME ( Profit(-) Loss(+) )   Profit or Loss
             
    00   Difference should be = 0 (blank cell)    
             
             
        CUSTOMERS/SUPPLIERS REGISTER    
             
        Customers    
      Cus-Redford Redford Inc USD TOTC
      Cus-Smith John Smith USD TOTC
      Cus-Black Simon Black GBP TOTC
    TOTC   Total Customers   Customers
             
        Suppliers    
      Sup-Johnson Johnson Inc EUR TOTS
      Sup-Marble Marble Inc USD TOTS
      Sup-Taylor Mary Taylor USD TOTS
    TOTS   Total Suppliers   Suppliers
             
             
        COST CENTERS    
             
        Products    
      .Product A Product A USD Products
      .Product B Product B USD Products
      .Product C Product C USD Products
    Products   Total Products    
             
        Projects    
      ;Project A Project A USD Projects
      ;Project B Project B USD Projects
    Projects   Total Projects    
             
             
        SEGMENTS    
             
        Branches    
      :BA Branch A USD Branches
      :BB Branch B USD Branches
    Branches   Total Branches    
             
    Table: Exchange rates
    Ref.Currency Currency Text
    USD EUR Euro
    USD GBP Pound Sterling
         
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