In this article
Multi-currency double-entry accounting is an application of Banana Accounting Plus, to manage accounts in any foreign currency. It is free up to 70 transactions in the Free plan of Banana Accounting Plus. In the Professional and Advanced plans it is instead unlimited.
Ideal for those who work abroad or with foreign countries and want to professionally manage accounts in different currencies.
- ▶ Video: How to start a Multi-currency accounting
- Discover all the Multi-currency accounting characteristics
Powerful and immediate calculations
- Based on double-entry accounting
- Management of accounts in any foreign currency
- Automated calculations and exchange rate differences
- Account statements with values in base and foreign currencies, Journal, Report
- Balance sheets also in a second currency
- Multi-currency financial forecasts
Multi-currency accounting documentation
Multi-currency accounting is a double-entry bookkeeping with the addition of multi-currency management, with many topics common to double-entry bookkeeping. For topics that are missing in the multi-currency documentation or for more in-depth information, please consult the Double-entry accounting pages.
Basics of multi-currency accounting
Chart of accounts, file properties and exchange rates table
We recommend to select one of the already configured examples and to personalize it according to your requirements. Please note that the Chart of Accounts must include accounts in foreign currencies as well as an account for profit and loss from foreign exchange.
- Setup the chart of accounts
- Groups and subgroups
- File properties - foreign currencies tab
- Setup the Exchange rate table
Accounting transactions must be entered in the same way as the double-entry accounting transactions
Convert double-entry accounting into multi-currency accounting
If, during the year, you need to convert your double-entry accounting file into a multi-currency accounting you can do that easily. In order to add multi-currency features to a double-entry accounting file, please visit the Convert to new file page.
- Organising Accounting receipts
- How to start a multi-currency accounting
- Accounting with multiple languages
- VAT management.