CurrencyFYI™ is a cloud-based currency converter and calculator software that translates your multi-national financial statements into a standard currency. You can easily convert balances from one or multiple currencies into a common currency, and back again.
CurrencyFYI completes the translation calculations outside the general ledger. This approach provides the flexibility needed to evaluate your financial position daily, weekly, monthly, or at an interval that best suits your business needs.
Accounting standards demand a consistent translation methodology in order to provide a true reflection of economic circumstances and potential drawbacks. CurrencyFYI conforms to these accounting standards through its ability to translate by account type, based on the following methods:
