Who can use this feature
Roles: Owner, Admin, Staff and optional on custom roles
Plans: Available on Plus and Advanced
Syft's consolidation feature allows you to consolidate complex corporate structures and other consolidations with ease; and then visualize, analyze, forecast and report.
Syft allows you to post transactions in various different countries, to change the exchange rate for your entity, and to consolidate the exchange rate for different entities.
With FX Rates on Syft, you can view end-of-period and average exchange rates and override them if required. Apart from being able to do this from "Settings" > "FX Rates", you're also able to upload/edit multiple exchange rates simultaneously using the Spreadsheet Link from either Microsoft Excel or Google Sheets.
Spreadsheet Link upload method
Use Spreadsheet Link on Excel or Google Sheets to upload your exchange rates to your multi-currency consolidation or single entity on Syft. Spreadsheet Link allows you to upload your FX rate changes directly from Excel or Google Sheets without having to manually change each rate. Get Spreadsheet Link:
For Excel: Download from Microsoft app store
For Google Sheets: Download from the Google app store
After you have downloaded Spreadsheet Link, follow the steps below:
Login to Spreadsheet Link within Excel using your Syft account by clicking "My Account" within the "Syft" top tab
Click "Upload data to Syft" in the side menu
Click "Upload data to Syft" in the side menu
Select "FX Rates"
Select the relevant entity from the dropdown
Select the sheet you wish to populate the template on
Select "Generate Template"
💡 Pro tip
If your entity is reporting in the same currency as what's on your underlying accounting provider, you'll see a message indicating, "Reporting currency is the same as the base currency"
After making the desired changes, select "Validate" and "Upload" to upload the rates into Syft.
