CurrencyFYIQuickly translate multi-company balances into a single currency for financial reporting with FYIsoft’s multi-national currency translation software

Currency Conversion for Financial Reporting

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. Multi-Currency conversions were never so easy with CurrencyFYI™!

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.​

Currency Conversion for Financial Reporting

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:

  • Spot or Average Rate Method – Provides several methods to use: number of monthly rates, number of days in the month, or a rate entered
  • Period or Month-End Method – Uses a single monthly rate
  • Historical Rate Method – Uses the rate on the original transaction date​

With CurrencyFYI, currency conversions and multi-currency reporting can now be done in a fraction of the time.