Multi-currency bookkeeping for US businesses

A named person on our team owns your file and reviews everything that leaves it. Software does a real share of the grinding underneath it — coding, matching, flagging the obvious gaps — but nothing regulated happens without a person’s judgement, and nothing here is signed or filed by an algorithm.

No — multi-currency bookkeeping is operational work inside your books, not something submitted to IRS. Where a filing does sit downstream of it, inside bookkeeping & accounting more broadly, that stays with your CPA or enrolled agent, never with us.

Whatever you already run. Most commonly QuickBooks, Xero, NetSuite, Sage, Zoho Books and a handful of others — we work inside your system rather than moving you onto one of our own.

A short, free read-only look at what you already have, and a written note on what we found. A scoping call decides the size of the engagement — nothing here commits you to anything.

There is no published price for multi-currency bookkeeping — it depends on volume, how many entities are involved, and how far behind the books are. We quote after the read-only review, which is free.

Multi-currency bookkeeping sits inside bookkeeping & accounting, alongside Monthly bookkeeping, Month-end close, Catch-up bookkeeping. Most clients end up buying the category as a whole rather than one leaf at a time, but starting narrow is fine.

The rate on the transaction date from a single, documented source — a named bank rate or data provider — applied the same way every month. We record which source and which rate was used against each entry so it can be traced later.

Realized gain or loss comes from a transaction that actually settled — an invoice or bill paid at a different rate than it was booked. Unrealized gain or loss comes from revaluing an open balance — cash, a receivable, a payable — to the period-end rate even though nothing settled. We post them to separate accounts so each is traceable on its own.

Yes — any open foreign-currency monetary balance, including bank accounts, receivables, payables, and intercompany loans, gets revalued to the period-end rate as a standard part of the close, with the unrealized gain or loss booked and scheduled to reverse the next period.

We maintain the foreign account data — balances, currency, month-end USD equivalents — that the determination depends on, and we'll flag when an account is worth a look. Whether FBAR or Form 8938 applies, and filing them, is a determination and a filing your CPA makes.

No, invoicing currency and sales-tax nexus are separate questions. Billing in euros is a currency-conversion mechanic on our end; whether that sale creates a tax obligation in another jurisdiction is a nexus determination your CPA makes, not something the invoicing currency answers on its own.

Functional currency is the primary currency an entity actually operates in — relevant if you have a foreign subsidiary or branch whose books need translating into USD for consolidation. We apply the translation mechanics once functional currency is determined. The determination itself, and any related election, is your CPA's call.

Both platforms have multi-currency features that auto-calculate exchange rates and gain/loss, but the output is only as reliable as the setup — home currency, rate table, account mapping. We configure it correctly up front and manually reconcile the auto-generated FX accounts each month rather than accepting the software's output unchecked.

The payment books in USD at the transaction-date rate, same as any foreign-currency disbursement, and any difference between the rate when the obligation was recorded and the rate when it was paid is tracked as a realized gain or loss on our books.

We revalue the loan balance on both sides in the same period using the same rate, and reconcile the two ledgers against each other monthly so the balance is aligned before it reaches consolidation — not discovered as a mismatch at year-end.

We document the rate source against every entry as it's booked, so a historical rate is a lookup, not a reconstruction. If a rate source changes going forward, we note the change and the effective date rather than silently switching.

No — hedging strategy is a treasury and advisory decision for you and your CPA or advisor. What we provide is the clean transaction and revaluation data that shows the size and direction of the exposure, which is the input that decision needs.