What is this page about: Light lets you view reports in each entity's own local currency or translated into a shared group currency. This page explains the two currency options, when to use each one, how Group Crcy translation works, and how FX revaluations handle unrealized gains and losses separately from reporting.
On this page
- What currency options are available on reports?
- When should I use Entity Crcy vs. Group Crcy?
- How does Group Crcy translation work?
- How do FX revaluations work?
- Related articles
Light stores every transaction in three currency perspectives at once:
- Transaction currency: the currency the original transaction was recorded in
- Local (entity) currency: the functional currency of the entity that owns the transaction
- Group currency: the company's shared base currency, used for cross-entity reporting
You choose which perspective a report shows with its currency selector. Open a report from the Reports list to find it. Browse your reports in Light →
What currency options are available on reports?
Table reports, the General Ledger and aged detail reports have a currency selector with two options:
| Label | Description |
|---|---|
| Entity Crcy | Shows each entity's figures in its own functional currency |
| Group Crcy | Shows all entities translated to the company's base (group) currency |
The Group Crcy label also shows the group currency code, for example "Group Crcy EUR". Pivot tables use a transaction currency filter.
Entity Crcy works for entities that share one local currency. If the selected entities use different local currencies, switch to Group Crcy or narrow the selection:
- General Ledger: Light shows the warning "The selected entities use different local currencies. Switch to Group currency, or narrow the selection to entities that share one local currency."
- Other reports: Light shows a red banner, "Unable to generate report in a local currency for company entities that have different local currencies", and the report stays empty.
When should I use Entity Crcy vs. Group Crcy?
Use Entity Crcy when:
- Reviewing a single entity's performance in its own operating currency
- Comparing entities that share one local currency
Use Group Crcy when:
- Comparing multiple entities side by side
- Running a consolidated report. Light shows the Subtotal, Eliminations and Consolidated columns in whichever currency you've selected
- Reporting to group-level stakeholders who work in the base currency
On table reports, selecting more than one entity switches the selector to Group Crcy, and you can switch it back to Entity Crcy. The General Ledger keeps Entity Crcy until you change it.
How does Group Crcy translation work?
Light translates each line once, when the document is recorded. It calculates and stores the group-currency amount using the exchange rate for the document's valuation date, falling back to its posting date. Reports add up these stored group-currency amounts, and reports have no rate settings of their own.
Accounts set to month-end rates work differently. The FX revaluation re-translates them to group currency at period end and books the difference to your currency translation adjustment account.
For consolidated reports, Light shows every per-entity column, the Subtotal and the Consolidated column in the selected currency, Entity Crcy or Group Crcy.
How do FX revaluations work?
FX revaluation is a period-close task that adjusts unrealized FX gains and losses on open balances, for example a foreign currency receivable whose value has changed since it was recorded. It runs as part of closing a period, separately from viewing reports.
To run an FX revaluation:
- Go to Accounting → Accounting periods and open the period.
- On the FX revaluation task, choose how to run it:
- Click Run to revalue every entity at once.
- Or click the task to open its drawer, tick the entities under Entities to close, and click Post revaluation.
Both options post the revaluation straight away, and the amounts first appear on the posted document. Light revalues open balances at the rate for the period-end date and posts the revaluation to the period end. The document date is the day you run it.
Earlier revaluations stay in place, and the next period's run tops up the difference. Light posts FX revaluation entries to the ledger as accounting documents, and they appear in reports once posted.