Xero user news – New foreign currency reports available

With live currency integration and automatic conversion functionality, Xero’s premium subscription makes it easy to process data in multiple foreign currencies and they have recently released updates to Xero’s foreign currency reporting capabilities.

In their recent product update, Xero announced that three of the main reports - Balance Sheet, Profit and Loss (Income Statement), and Budget Variance can now be generated in any of the currencies enabled in your Xero organisation. Just run the reports as normal and you’ll see there is now a dropdown currency field.

Six other reports allow you to view transactions in the currency they were created in, side by side with the GBP figure, or to filter, group, and sort the data by currency. The six reports are the Receivable and Payable Invoice Summary and Detail reports, Income by Contact, and Expenses by Contact.

If you’ve entered invoices or transactions in foreign currency, you may see a prompt in the column field dropdown to add figures in their source currency. You can also add the currency name and the rate.