Can I post trial balances in both EUR and GBP under one client in Bright Accounts Production, and generate a consolidated report?
Currently, Bright Accounts Production does not support multi-currency posting within a single client dataset. The base currency is locked at setup and cannot be changed later.
Limitations:
- Each dataset is limited to one base currency, defined under:
Settings > Accounts > Setup > Base Currency - Consolidation only works when all datasets involved use the same base currency.
How to work around this:
- Create separate datasets for each entity:
- Set the Dublin branch dataset to EUR.
- Set the Belfast branch dataset to GBP.
- Manually convert trial balances to match one currency:
- Use external exchange rates to convert either EUR to GBP or GBP to EUR.
- Update one of the datasets so both are using the same currency.
- Run the Consolidation Process:
- In the Parent Dataset, go to: Compliance > Client Details > Group Companies > Add Subsidiary
- Then click Run Consolidation Process once all datasets are aligned.
Note: There is no automatic currency conversion during consolidation at this time. A development request has been raised to consider this feature in future updates.