By default, all balance sheet accounts at consolidated companies in ScaleXP are consolidated at the same exchange rate for a given month. This is based on actual month end rates. The Balance Sheet uses the average daily exchange rate on the last day of the month. Rates are to four significant digits sourced from Open Exchange Rates, www.openexchangerates.org.

This method is very useful for management accounting and consistency across accounts.

However, you may wish to adjust certain balance sheet accounts to reflect IFRS / GAAP rules as applied to your specific circumstances and applicable historic exchange rates for your entities.  

Adjusting the rates in ScaleXP is easy.

The rates will automatically be applied to the balance sheet and an "FX Adjustment on Consolidation" will be calculated automatically to adjust for the differences.

This is usually added automatically to your Total Equity.

You can also add this to your Balance Sheet report yourself: select "FX Adjustment on Consolidation" as a line item or formula input.