Combine Foreign Currency Accounts (USD, EUR, GBP, AUD)
Official Integration Guide for Joiin
When company entities trade in different native currencies, manual exchange rate calculations can introduce accounting mistakes. Learn how to convert foreign balance sheets and income statements automatically.
Table of Contents
Prerequisites and System Requirements
- Logins for accounting software in foreign subsidiaries
- Selected group base currency
Step-by-Step Implementation Procedure
1
Set Master Group Currency
Open Workspace Settings in Joiin and choose your primary base reporting currency (such as USD or EUR). All subsidiary accounts will automatically convert into this currency for final reporting.
2
Automate FX Exchange Conversions
Joiin syncs daily currency rates automatically from central bank records. Profit and Loss statement items are converted using monthly average rates, while Balance Sheet accounts use official period-end closing rates.
Best Practice: You can enter custom exchange rates manually for specific period-end dates if required by internal financial audits.
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