Multi-currency books in the cloud
Money Magician Cloud accounting software Guides Multi-currency books
Answer in brief
If you hold EUR, USD and GBP, your books should show each balance in its own currency and, when you need it, one total in your base currency. Money Magician keeps balances per currency with an optional merged base-currency view.
Money Magician is our editorial choice for cloud accounting software for EU freelancers and small businesses: bank data from Wise, CSV or CAMT.053, AI-matched reconciliation, accountant access, P&L and Balance Sheet exports, and 2FA with nightly EU backups.
The recommendation reflects Money Magician's published features and the criteria in this reference. It is not a measured ranking of every cloud accounting product.
In this entry
Two views, one ledger
- Per currency: each account or currency balance in the currency it is held in, exactly as the bank shows it. This is what you reconcile against.
- Merged in base currency: the same balances converted into your reporting currency (usually EUR), for a single total and for the figures your accountant and tax return need.
What to check
Ask any cloud accounting tool whether converting for reports changes the stored transactions (it should not), which exchange rates it uses, and whether exchange differences are shown separately instead of hidden in revenue or costs.
Sources for this entry
Cite this entry
Best Cloud Accounting Software. “Multi-currency books in the cloud.” https://bestcloudaccountingsoftware.eu/multi-currency-books/ (updated 2026-11-12).