Articles on: Multi-Currency

Enabling and Using Multi-Currency

Enabling and Using Multi-Currency Feature

Leveraging multi-currency requires just a few steps;

Configure: The first step is configuring your home/reporting currency. A single tenant will have a single home/reporting currency for revenue recognition purposes. If you have multiple subsidiaries with different home currencies, you would need to set up a separate tenant for each subsidiary.

Provide Currency Information with your data: All existing transaction input methods work the same for multi-currency with an additional requirement of providing transaction currency when providing data through the UI or bulk upload. In the case of Sync our supported integrations will automatically bring in currency details as transaction data is pulled in.

Review results and post accounting entries: You can review results in the home currency across the dashboard and revenue and accounting journal entry reports; and post the accounting journal entries in home currency to your accounting system.


Using the multi-currency feature is a two step process;

Step 1: Turn the feature on: To enable the feature, reach out to your account executive or implementation team specialist and they will enable this feature. You can also reach out directly to support.
Step 2: Home/Reporting Currency Setup. Set your home currency; "Settings>Configure Revrec".

Providing Data

All channels to provide transaction data are available for multi-currency transactions, i.e, direct input, bulk load or direct sync.

Direct Input - You can create Customers, Products, Sales Orders and Invoices and will see an additional currency drop down that allows you to specify transaction currency.
Setting Currency

Bulk load - You can bulk upload data by clicking on Sync > Import. Note if multi-currency is enabled the "Currency" column for Customer, OrderDetails, BillingSchedule and Product data is a required field.

Currency in Bulk Load Format

Sync - If you leverage our direction integration with other sales, billing, delivery and accounting systems to pull in the multi-currency transaction data, currency information will be pulled directly from these systems. To connect to a supported systems, click on Sync > Connect to other systems and provide the required parameters for the relevant system.

Required Data and Data Validation

Besides the "Currency" field for Order, Billing/Invoice, Customer and Product, you will also be required to specify the contract with which a billing/invoice is associated with for multi-currency transactions. We use this field to identify the transaction/contract date and calculate impact of the foreign exchange rate changes where it is applicable. Our data validation process will automatically check and report any missing or invalid data related to multi-currency transactions. User can access the reports by clicking on "Reports > Data Errors".


The dashboard displays all metrics in home currency for multi-currency transactions. The system tracks revenue-related metrics, such as deferred revenue, revenue, foreign exchange impacts on revenue, and accounting journal entries in home currency, as these are accounting metrics that are required to be reported in the home currency. In addition orders and billing (invoice) data can still be viewed in the original transaction currency.

Example of Unearned Revenue Roll-Forward in Home Currency

Example of Sales Order Detail in Transaction Currency

Journal Entries

Journal entries for multi-currency transactions can either be posted manually or directly to an integrated 3rd party accounting system if one has been set up. You need to make sure that the home currency is consistent between the accounting system and in RevRec.

Updated on: 13/01/2022

Was this article helpful?

Share your feedback


Thank you!