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Xero Multicurrency and Bookkeep

How Bookkeep Ensures the Correct Currency Is Posted to Xero​

Handling Multiple Currencies​

  • Do you receive payments in multiple currencies?

  • Do you sell in foreign currencies?

If so, you may wonder how Bookkeep manages currency conversions to keep your Xero financials accurate. Whenever a connected app provides its own converted amount, we always post that figure because it reflects the most precise conversion rate.
Example: If Amazon converts your CAD sales to USD before depositing to your bank, we use the USD amount and the conversion rate Amazon supplies.

Posting Deposits and Sales Entries in Xero​

In Xero, Bookkeep posts deposits as bank transactions and sales entries as manual journals.

Bookkeep’s Proprietary Currency Converter​

In scenarios where the source currency does not match the currency of your Xero accounts and no conversion is provided by the source app, Bookkeep offers a proprietary currency converter. This tool applies the official exchange rate for the specific transaction date, ensuring that all entries are posted in the correct currency and your financials remain accurate.

  • Non-Deposit Postings (e.g., Sales Journal Entries)
    If the source currency differs from your Xero base currency, Bookkeep will either use our proprietary converter or, if conversion isn’t possible, fail the entry to prevent incorrect postings.

  • Deposit Postings as Bank Transactions

    If the source currency does not match the mapped Xero bank account currency, Bookkeep again uses the proprietary converter when needed, or fails the entry to avoid posting incorrect amounts.

For questions about multi-currency handling, contact support@bookkeep.com—we’re here to ensure your Xero financials are always accurate.