Multi-currency accounting with FX revaluation and CTA posting.

Functional currency

Each entity carries its own functional currency.

Set a functional currency per entity. Transactions are recorded in their original currency, translated to the entity's functional currency at the transaction-date rate, and then translated to the parent reporting currency at the period-end rate on consolidation.

• Per-entity functional currency.
• Transaction-date rates for income statement items.
• Period-end rates for balance-sheet items per ASC 830.
• Historical rates preserved for equity components.

Rates

Daily rates from a public source feed.

Quoining pulls daily exchange rates from the Frankfurter ECB feed and stores the rate per currency pair per date. You can override a rate for a specific transaction or for a specific period-end revaluation run.

• Daily ECB rates fetched automatically.
• Per-transaction rate overrides.
• Rate audit trail (every rate used on a posting is preserved.

Revaluation

Period-end FX revaluation of monetary balances.

At period close, Quoining revalues monetary asset and liability balances at the period-end rate, posts the unrealized gain or loss, and auto-reverses the revaluation entry on day one of the next period. Realized gains and losses post when the underlying transaction settles.

• Period-end revaluation of cash, AR, AP, and other monetary items.
• Unrealized FX gain/loss posts to the configured GL account.
• Auto-reversal on day one of the next period.
• Realized FX gain/loss on settlement of foreign-currency transactions.

CTA

Translation adjustment on consolidation.

When entities with different functional currencies roll up to the consolidated reporting currency, the cumulative translation adjustment posts to other comprehensive income. The CTA balance is preserved across periods and reported in the statement of changes in equity.