A global business environment
Few companies today work exclusively in one currency. Whether it’s subsidiaries abroad, or even using services from other countries, foreign exchange calculations are part and parcel of doing business today.
When it comes to leasing, FX calculations can have a significant impact on multiple aspects of a company’s lease accounting efforts. Especially when it comes to the new demands of ASC 842, FX issues can muddy already cloudy waters.
This isn’t just for external reporting and disclosure requirements. It also affects internal reports, the need to compare like with like, generate meaningful analyses, and provide accurate insights.
For accounting teams, we generally have the reporting currency in which they need to report.
When we export reports as Waterfall reports, the currency is reported “as is.” The default report export is in the currency that we report in. This is not always what we want or need.
Now, with Trullion’s advanced FX Currency capabilities, you can export in the original currency, and let the ERP do the exchange for you.
The results? Enhanced comparability, valuable insights, and consistency across reports. Plus, disclosure becomes significantly simplified as the software does all the complex calculations for you.
Focus on the value you can provide
This latest feature is just another way that Trullion’s AI-powered automated lease accounting solution does the heavy lifting for you – taking care of the details, and freeing you up to make an impact, get noticed, and add value.
Whereas in the past, FX concerns in addition to the latest lease accounting requirements were enough to keep you up at night, now, thanks to Trullion, you can sleep easy.