Multi currency month end closing procedure

Multi-Currency Month-End Closing

If your company uses Multi-Currency accounting in cieTrade, you should configure your month end closing report:

Settings > Accounting > Closing Adjustment Report Format > Multicurrency Grouping

This option will show the  Multicurrency Closing Adjustments Report, which groups closing entries by transaction currency and displays:

• Currency
• Native Currency Amount
• Base Currency Equivalent Amount

The report can be used to support month-end reconciliation, foreign currency review, and audit requests.

Additional Multi-Currency Reports to support the month end process.

A/R Revaluation Report

Displays open Accounts Receivable balances by currency and calculates unrealized foreign exchange gains and losses.

A/P Revaluation Report

Displays open Accounts Payable balances by currency and calculates unrealized foreign exchange gains and losses.

Closing Transaction Ledger

Provides transaction-level detail supporting month-end closing adjustments.

Unposted Accruals Report

Displays transactions not yet included in a closing period.

If you have additional questions, please contact the Support Team via email to support@cietrade.net.