FX Transalation Financial Reporting

I need to construct financial statements in a “functional currency” (NZD) and then translate into another currency (AUD).

The balance sheet end of month balances need to be translated at the End of Month Rate and the Profit and Loss transactions need to be translated at the Average Rate of the month.

I am able to translate the P&L data but I am having difficulty in calculating the running total per month for each balance GL-account and then translate that to the AUD currency.

I have attached a sample file of the data.

Any help please?

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Hi @grant

Would you be able to upload the sample file please.

Thanks and regards

Najah

@grant,

Have you taken a look at this video yet?:

  • Brian
1 Like

Yes agree, with Brian check out the above video. Covers in-depth currency techniques.

Also for the monthly average exchange rate you will need to use AVERAGEX using a technique similar to the below

image

The concept is covered in the below tutorial.

Thanks
Sam

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Thanks I did.

It did not resolve my problem. My problem which I am not sure how to fix is as follows:

I need to summarise the balance sheet accounts for each period and then using a ‘end of Month’ exchange rate to translate the balance from NZD to AUD for example.

Grant

Can you please add a demo Power BI file to get more assistance on this.

Thanks
Sam