Bookkeeping
Multi-currency bookkeeping
Bookkeeping for EU businesses billing or holding funds in more than one currency, since the euro is not universal across the bloc, with exchange gains and losses tracked separately from operating results.
Bank reconciliation summary
Illustrative client · August 2026
EUR
| Account | Difference | Status | ||
|---|---|---|---|---|
| Operating account··4821 | 184,220.16 | 184,220.16 | 0.00 | Reconciled |
| Reserve account··0937 | 60,000.00 | 60,000.00 | 0.00 | Reconciled |
| Company card··1006 | (12,418.52) | (12,418.52) | 0.00 | Reconciled |
| Card processor clearing | 8,905.40 | 8,905.40 | 0.00 | Reconciled |
| Payroll clearing | 0.00 | 0.00 | 0.00 | Reconciled |
Last weekly runFri, 28 Aug, every account agreed to its statement.
Two open itemsTwo card receipts requested from you, marked on the card account until they arrive.
Illustrative. An example of the document, not a client's figures.
The EU is not one currency
Twenty of the twenty-seven EU member states use the euro; Poland, Sweden, Denmark and others do not. A business selling across the bloc, or holding a supplier or payroll account in a non-euro state, needs books that handle more than one currency without losing the operating picture underneath.
Finbryn records transactions in their original currency, converts at the rate on the transaction date for postings, and revaluates balances still open in a foreign currency at period end, consistent with IFRS for SMEs. Realised and unrealised exchange gains and losses sit on their own line, separate from actual trading results.
Reporting for a registered local partner
Foreign accounts are reconciled in their native currency, then combined into consolidated reports. When a VAT, OSS or statutory filing is due, your registered local partner receives figures that already separate currency movement from operating performance, so the filing does not need to untangle the two first.
Payroll and supplier accounts, not only sales
Multi-currency exposure in an EU business is not limited to customer billing. A payroll run in Polish zloty or a supplier invoiced in Swedish krona creates the same tracking need as foreign sales, and we handle both sides the same way, recording, converting and revaluing consistently across the whole ledger rather than only on the revenue side.
Questions
Frequently asked questions: Multi-currency bookkeeping
Can you handle a Polish or Swedish krona account alongside a euro one?
Yes. Each account is reconciled in its own currency, then combined for your consolidated reports.
Does OSS reporting still work if we bill in more than one currency?
The underlying records are kept ready for it; the OSS return itself is filed through your registered local partner or your own registration.
How are currency gains or losses on settlement recorded?
The difference between the rate on the invoice date and the rate on settlement is posted as a realised gain or loss, kept separate from operating results so margin analysis is not distorted by exchange-rate movement.
Does this work if one entity invoices in euros but pays suppliers in another currency?
Yes, receivables and payables are tracked in their original currency and revalued at each close, so the euro-denominated books reflect the actual exposure rather than a single blended rate applied to everything indiscriminately. The setup is confirmed with you once, then applied consistently across every future period.
Which exchange rate do you use?
The rate on the transaction date for postings, with period-end revaluation for balances still open in a foreign currency, consistent with US GAAP.
Can you handle a foreign bank account alongside a US one?
Yes. Each account is reconciled in its own currency, then combined for your consolidated reports.
What is included in multi-currency bookkeeping?
Multi-currency bookkeeping covers transactions recorded in their original currency and converted at the correct rate and realized and unrealized exchange gains and losses tracked on their own line. The exact scope is agreed and set out in writing before work starts, so you know precisely what is and is not covered before the first deliverable arrives.
How is multi-currency bookkeeping priced?
Pricing for multi-currency bookkeeping depends on your transaction volume, the software you use, and how much cleanup is needed before ongoing work starts. Current ranges are published on the pricing page, and your exact fee is confirmed in writing before anything begins.
Related services
- BookkeepingIntercompany accountingBookkeeping across two or more related entities, with intercompany loans, charges and transfers tracked and eliminated so consolidated reports are not overstated.
- BookkeepingAccrual basis bookkeepingBooks kept on an accrual basis, matching income and expenses to the period they were earned or incurred, so reports reflect the real state of the business.
Industries
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.