Spotlight will complete multi-currency conversions when working in a multi-currency consolidated report. Spotlight uses XE.com to do conversions within the product, you can view and edit the exchange rates that Spotlight uses for converting organisations with different currencies into the group report currency.
You can access the exchange rates from within the group's Settings page.
There are several options available when you edit your exchange rates.
Choose the financial year for which you want to amend the exchange rates. You can access the current financial year, plus three prior years.
Set the type of exchange rate to use on profit and loss reports.
Note: Balance sheet reports automatically use the month-end rate. If required, you can override this in the USER DEFINED section.
Choose how you want to view the exchange rates.
Change the exchange rate used for the profit and loss, balance sheet or both.
When working in a multi-currency consolidated report, you may notice accounts that have been added to the P&L and Balance Sheet.
The FX Reserves account that appears in the balance sheet report is the foreign exchange rate difference between showing the Current Year Earnings based on monthly converted profit vs. year to date converted profit. This line is needed to balance the report.
If you want to combine this line with the adjustment row held in the Eliminate Accounts screen, ensure that each account has the same name. To amend the name of the balance sheet account, open the Customise Rows option, click the pencil icon and amend the name of the account.