CurrencyFYI

CurrencyFYI is a currency translation solution with currency restatement and consolidated financial reporting for multi-national organizations. The vendor’s value proposition is that CurrencyFYI provides daily revaluation for better insight, including the ability to truly revalue historical transactions. CurrencyFYI translates the user’s financial statements in foreign currency by converting balances from one denomination into another currency, or into many other currency denominations.

According to the vendor, key business features and benefits include:

• Translation calculations are performed outside the general ledger, which provides the flexibility needed to evaluate your financial position daily, weekly, monthly, or at an interval that best suits your business needs.
• Financial balances are accurately translated across companies, currencies, and time periods.
• Stored foreign currency translations based on the account type, translation method, and time period ensure your numbers will not change.
• Translated balances are quickly generated for many kinds of reports, including: Consolidated financials, Gain/loss calculations
• Reports that contain both functional and reporting currency
• Details of multinational organizations are integrated and consolidated.
• Completely FASB 52-compliant.