One of our beloved clients has operations in the United States, as well as in Canada. As such, there bookkeeping has always been complicated, given that the exchange rates vary day to day. Some of these exchange rate changes can make a significant difference. So how to produce accurate books?
Well, ZümiFi has an answer for that! Our expertise with QuickBooks includes knowing that QuickBooks can manage multi-currency. So we went through a careful review and came up with a plan to transition their books and leverage these multi-currency requirements. With multi-currency in QuickBooks, we can see all bookkeeping activity reflected with an exchange rate assigned explicitly on that date! No more estimating what the impacts are of the exchange rates – now we have detailed, accurate, precise, real-time books that fully reflect what is happening in their business!
Game changer! The business owner is now seeing the real impacts of the exchange rates on their business. The owner can make informed decisions, knowing what their accurate numbers state. Additionally, now that we have a super clear picture of what is happening, we are also better able to plan and forecast what the impacts could be if the exchange rates go in one direction or another.
Perhaps we shouldn’t be so excited about this, but honestly, we are numbers nerds! And numbers nerds love seeing actionable, accurate data. This brings us joy because it brings real value to our clients.
ZümiFi – pressing forward to ensure you have the numbers you need!