Reading time 6 min read
How to handle foreign currency invoices, settlements and revaluations cleanly so your reports stay accurate.
Singapore businesses often trade in multiple currencies from day one. Setting up your books properly avoids painful clean ups when foreign exchange movements start affecting your profit and loss.
Good habits
- Choose a clear functional currency at the start.
- Use daily exchange rates from a reliable source.
- Revalue open balances at each month end.
- Report realised and unrealised gains separately.