Generating report in another currency.

DemDem Member Posts: 6

Hi all,

Please, I would like to generate my report in another (new) currency apart from the one i initially selected, whether by multiplying the values in the present report by the exchange rate of the new currency, or some other way. How can i achieve this?

@Alexia, hope you are well? Thanks for the other time.

Thanks !

edited August 29, 2018 in Wave Features

Comments

  • AlexiaAlexia Administrator Posts: 3,314 admin

    Hi, @Dem!

    I am, thank you for asking! July has been very, very good to me!

    That isn't possible in Wave at this time. You can get an Account Transactions report for a specific payments account in a different currency if it's set in that currency itself (so if you have a USD bank account, you could see it in USD).

    If you'd want to change the currency for a particular report, you would have to pull up the exchange rate that applies to each individual transaction (because exchange rates change daily) for everything to match up with the reports Wave creates.

    Can I ask for a bit more context as to why you need to change the currency on a report? Which report would you need to use a different currency for? It might give me a better idea of how to help you best.

  • DemDem Member Posts: 6

    Hi @Alexia,

    Glad to know you had a very fine July!

    Thanks for your feedback. I am particularly about the ( P&L ) report which is in NGN. I was asked to submit the same in USD. So, in order to do this, all values in NGN needs to be converted to USD ( Of course by multiplying these NGN values by the current rate which is 0.002778 to get the USD equivalent.). I would have thought that there is a textbook somewhere for me to enter the conversion rate, and then the software could automatically multiply all values with the conversion rate, then allow me generate the report in the new converted currency.
    ;)

    Thanks!

  • AlexiaAlexia Administrator Posts: 3,314 admin

    Hi, @Dem.

    Using the same rate for all of those numbers would give you a decent approximation, but necessarily an accurate one. To truly offer an accurate report, you would have to apply the exchange rate of the day of each of the transactions on your account to each of those transactions. I do hope the approximation from just converting the numbers to today's exchange rate helps out, it'd be much, much less work to figure out.

    Wave has fairly limited support of multi-currency businesses right now. We're working on improving that, but I don't have details or a timeline to give.

  • DemDem Member Posts: 6

    Hi @Alexia !

    Thanks. You are correct. However the approximation works well for this case, if only there is a way I can get that done?

    If wishes were horses, I would be riding right now.

    Thanks

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