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Foreign currency
AnthonyMA
Member Posts: 16
Although our predominant currency is sterling, we do have an account in CHF. Everything I do with that account, including reporting and exporting, needs to be in CHF. Currently, Wave contaminates the reports and the exports with sterling. It even displays the balance of the account in sterling when in transaction mode. It would be helpful if it could be possible to view, export and report on foreign currency accounts in the foreign currency only.
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Hey @AnthonyMA! Thanks for chiming in with your feedback on the multicurrency features in Wave. In your suggestions, you mentioned reporting on foreign currency. I was wondering if you could further explain what type of reporting you would like to see on your foreign currency accounts? Are you referring to specific Profit and Loss reports (as an example) for each report?
My post isn't about reporting. It doesn't matter what reporting you choose, or what exporting you choose, the foreign currency amounts are contaminated by base currency figures. If base currency amounts are needed by other users of foreign currency accounts, how about providing a switch which instructs the software to present the foreign currency figures only?
@AnthonyMA It sounds like I misunderstood your original post, which was not the intention - so my apologies for that! When you say
Are you referring to something like a filter that would allow you to view transactions only by currency?
At the moment, for foreign currency reports and exports, some calculation takes place to render the base currency as well, and you can't get away from that. I'm suggesting that we be allowed to instruct the software not to make those calculations, and just to render the foreign currency values.
Hey @AnthonyMA, thanks for following up with us and explaining further. Right now this is not possible in Wave, we pull our exchange rates from http://www.xe.com/ daily. Thank you for the suggestion, I will be sure to pass it along to our product team, but I cannot guarantee that this will be implemented in Wave.