Report any location in your reporting currency
Fintra translates a location’s financial statements into a chosen reporting currency using the current-rate method - income statement at average rates, balance sheet at closing rates.
Illustrative product view
Why franchises need currency translation
A franchise network that crosses borders has locations keeping books in their local currency. To review them alongside domestic units, a franchisor needs those statements translated into a single reporting currency - consistently, using the right rate for each part of the statement.
Current-rate translation
income_statement × average_rate; balance_sheet × closing_rate
The current-rate method translates the income statement at the period average rate and the balance sheet at the period-end closing rate.
How Fintra translates
Point a report at a reporting currency and Fintra translates that location’s report tree accordingly - the income statement at the average rate and the balance sheet at the closing rate. It’s wired into the standard reports, so translation is a parameter, not a separate export.
- Income statement translated at the period average rate.
- Balance sheet translated at the period-end closing rate.
- Available as a reporting-currency parameter on standard reports.
Translation, not consolidation
Why the method matters
Translating the whole statement at one rate produces misleading numbers. The current-rate method - average for flows, closing for balances - is the standard approach for presenting a foreign operation’s results, and applying it consistently keeps cross-border comparisons honest.
Frequently asked questions
What is the current-rate method of currency translation?
The current-rate method translates a foreign operation’s income statement at the period’s average exchange rate and its balance sheet at the period-end closing rate. It’s the standard approach for presenting a foreign entity’s results in a reporting currency.
How does Fintra handle multi-currency reporting?
You choose a reporting currency, and Fintra translates the location’s report tree using the current-rate method - the income statement at the average rate and the balance sheet at the closing rate. It’s available as a parameter on standard reports rather than a separate process.
Does this consolidate multiple entities?
No. It translates a single location’s statements into a reporting currency for presentation. It does not combine multiple entities into one consolidated statement or eliminate intercompany balances - that GAAP multi-entity consolidation is outside the current module.
Why not translate everything at one exchange rate?
Because flows and balances belong at different rates. Translating revenue and expenses at the average rate reflects when they occurred, while translating assets and liabilities at the closing rate reflects their period-end value. Using one rate for both distorts the picture.
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Review every location in one currency
Start free, no card required. Translate a location’s statements with the current-rate method.
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