Multi-Currency Conversion in a Consolidation

Consolidate companies with multiple currencies and have Reach Reporting handle currency conversion automatically

You can consolidate companies with different currencies and have Reach Reporting automatically handle foreign currency conversion by using historical exchange rates within a consolidated company. For Profit and Loss and Cash Flow Statements, the monthly average exchange rates are used, and for Balance Sheet, the end-of-month exchange rates are used (in accordance with IFRS and GAAP guidelines - for more details, please reference documentation links below).

Translating the financial statements into the reporting/ presentation currency using different historical exchange rates leads to currency translation differences on the Balance Sheet (i.e. assets will not equal liabilities plus equity). For that reason, a balancing figure taking those differences into account should be introduced. Foreign Currency Translations Reserves (i.e. currency translation differences) are typically recorded under Equity section on the Balance sheet and under Effects of Currency Translation Differences on the Cash Flow Statement (as a separate line item, not under Financing Activities).

In the near future, Reach Reporting will automatically handle FCTR adjustments (i.e. currency translation differences) for you. In the meantime, you can use a custom row calculation and add the difference between assets and liabilities plus equity on the Balance Sheet and the Cash Flow Statement. Alternatively, you can book currency translation differences in a separate entity and then consolidate. If you need to eliminate certain accounts that have FCTR adjustments, you can do so by choosing them from the entity where adjustments are booked and leaving the offsetting accounts in the other consolidated companies unselected. This helps to properly convert your companies into the reporting/ presentation currency.

Watch the video below to find out how to use this feature.



Documentation Links:

IAS 21 The Effects of Changes in Foreign Exchange Rates (
IAS 7 Statement of Cash Flows (
830 Foreign Currency Matters ( (search for 830)

Go to the Reach Reporting app>


learn more at

We are dedicated to helping you.

- Need Additional Help?

Your success is important to us.

Whether you're working as a CFO of a business or part of an accounting firm, Reach Reporting is here to improve your working knowledge of reporting and provide service tips and skills to ensure you're at the top of your game. 

We make sure that you have access to staff members that are best suited to help you. We work together to resolve issues and create memorable moments that empower you to enhance your reporting skills.

We are here to listen to you. We understand that using new technology can be frustrating, so we can answer questions or jump on a quick zoom call. Our entire staff has an in-depth knowledge of Reach Reporting and can quickly direct you to best practices to improve your reporting. 

We are here focused on providing solutions that save you time and increase your value. We continue to improve each day and look forward to visiting with you. Your communication with us is vital and appreciated. 

Please feel free to chat with us by clicking the help chat bubble in the lower right-hand corner of this page.

Reach out to your Reach Reporting Rep and schedule a zoom meeting by clicking the meeting link in their email signature.

Or schedule to join our onboarding webinars

Foundations Webinar

Reach Reporting is dedicated to helping provide a knowledge base that is easy to understand and informative. If you still have questions that have not been answered, please let us know by emailing, chatting with our support team, or calling us at (877) 467-7637. We are here to ensure that you have a positive experience with Reach Reporting, as we want to continue to be the reporting solution you trust. 

Need more access to Reach Reporting Resources?

Reach Reporting has a wealth of knowledge and a robust online community to support you as you create reports that provide powerful insight. Please look into the following resources.

Reach Reporting Blog: We add blogs to our site every month to give you great information in a fun and friendly manner.

Case Studies: We interview one company per month to help our clients highlight how they are using Reach Reporting and how it is improving their services and firm offerings. These case studies are invaluable to our community.

Knowledge Center: From simple to complicated, we provide step-by-step guidance to utilize every aspect of Reach Reporting in our robust knowledge center.

Video Tutorials: We know watching is sometimes easier than reading, which is why all of our tutorials are video-based in the video tutorial section of Reach Reporting and Youtube.

Social Networks: Join us on FaceBook, LinkedIn, Youtube, and Twitter.

Competitor Comparisons: We have looked at all the reporting solutions on the market. We provide you with an in-depth look at Reach Reporting compared to some of the strongest competitors out there on our competitor comparison page

Monthly Newsletter: Go to the footer of and sign up to receive the Reach Reporting newsletters delivered directly to your inbox. Our newsletters cover tips and tricks, current events in accounting, strategies to improve your advisory services, and much more.

We look forward to helping you build insightful reports,

The Reach Reporting Team.