Functional currency

The currency of the main economic environment an entity operates in, which decides how its results are translated for the group.

Not simply the currency it invoices in. It follows where the entity’s cash flows and costs are really determined.

Getting it wrong moves differences between profit and reserves, which is exactly the sort of error that surfaces late and restates a comparative.

Also written: presentation currency, currency translation.

In the product

Consolidation

Consolidate across Tally companies, SAP company codes, Oracle ledgers and QuickBooks entities, with multi-currency translation.