Worthic supports the use of more than 170 currencies.
Every workspace has a workspace reporting currency, which is editable by the workspace owner in workspace settings. This is the main currency used for workspace-wide dashboards, net worth, cashflow summaries, budgets, targets, goals, forecasts and reports. It gives the workspace a single consistent view, even when the underlying accounts, investments or real-estate reporting lines use different currencies.
Accounts use their native currency, regardless of workspace currency setting. For example, a workspace may report in USD while one bank account is in EUR, another in AUD, and an investment account in GBP.
Real estate reporting lines can have their own reporting-line currency. This is especially useful where a property is managed in the currency of its local market. For example, a workspace might report globally in USD, while a Dubai-based real-estate reporting line uses AED. Real estate transactional accounts can be in any currency, but real estate managed accounts, such as property expense or tenant deposit accounts, are created in the real-estate reporting-line currency.
When Worthic combines information across currencies, it converts amounts into the relevant reporting currency. Account balances and account activity can be converted into the workspace reporting currency for workspace-level views such as net worth, cashflow, targets, goals and forecasts. Real estate transactions can be stored with both the original source amount/currency and the converted reporting amount/currency for the real-estate reporting line. Real estate reports use the real estate reporting-line currency where appropriate, while workspace-level rollups convert values back into the workspace reporting currency.
Conversions are date-aware. Worthic uses historical FX rates for the relevant transaction, valuation or reporting date. This keeps reporting consistent without losing the original currency context.