Bookkeeping
Multi-currency bookkeeping
Multi-currency bookkeeping for Hong Kong companies that bill, pay or hold funds in more than one currency, common given the territory's role as a regional trading and holding hub, with exchange gains and losses tracked separately and each account reconciled in its own currency.
Bank reconciliation summary
Illustrative client · August 2026
HKD
| 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.
Why this matters for a Hong Kong company
Hong Kong operates as a trading and holding-company hub for the wider region, and it is common for a Hong Kong-incorporated company to invoice in US dollars, pay suppliers in renminbi, and hold working capital in HKD, sometimes all inside a single set of accounts. Books that ignore currency movement, or blend it into operating results, distort the picture your directors and your auditor both rely on.
How we keep the ledger
Transactions are recorded in their original currency and converted at the rate on the transaction date. Realised exchange gains and losses, from settling invoices or paying suppliers at a different rate than the transaction was booked at, are tracked on their own line rather than mixed into revenue or cost of sales. Balances still open in a foreign currency at period end are revalued, with the unrealised movement kept separate too.
Reconciling foreign accounts
Each foreign bank account, whether it is a USD, RMB or another currency account, is reconciled in its own currency against its own statement, then combined into a single HKD-denominated set of consolidated reports so the two-tiered profits tax position stays clear despite the currency mix.
What this protects at audit time
A practising Hong Kong CPA auditing multi-currency accounts will test the exchange rates used and the treatment of gains and losses specifically. Keeping that separation clean each month, rather than reconstructing it at year end, avoids one of the more common causes of audit delay.
Where this connects
Multi-currency work runs alongside monthly bookkeeping and often pairs with a chart of accounts built to separate currency movement from operating results. Book a call if your structure spans several currencies and entities.
Questions
Frequently asked questions: Multi-currency bookkeeping
Can you reconcile a foreign bank account alongside our HKD account?
Yes. Each account is reconciled in its own currency, then combined for your consolidated, HKD-denominated reports.
Does currency movement affect my profits tax position?
Realised and unrealised exchange movements are tracked separately from operating results, which keeps assessable profits and the two-tier band assessment clearer for your adviser.
Will this slow down our statutory audit?
Kept current monthly, it should not. Multi-currency treatment is one of the areas a Hong Kong CPA checks closely, and clean monthly separation shortens that review rather than lengthening it.
Which currencies do you typically reconcile alongside Hong Kong dollars?
US dollars and renminbi are the most common alongside HKD, given Hong Kong's trade and mainland links, though any currency your bank or payment processor supports can be tracked the same way in your monthly reconciliation.
What exchange rate do you use to convert foreign-currency transactions?
The rate on the transaction date, taken from your accounting platform's own rate feed, is used consistently so gains and losses from currency movement are visible on their own line rather than buried inside another account.
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
Industries
- SaaSBookkeeping and reporting for subscription software businesses tracking recurring revenue, deferred revenue and burn.
- Ecommerce (Amazon and Shopify)Bookkeeping for online sellers on Amazon, Shopify, Etsy and their own storefronts, built around clean payout and sales tax data.
- Startups and VC-backed companiesBookkeeping and reporting for early-stage, venture-backed companies watching burn, runway and investor reporting closely.
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.