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Reporting in a currency other than GBP

UK laws allow us to submit accounts other than GBP. I have a client who is US company and want to open Uk companies but want to account in USDollar. Some companies file in Euro in Uk.

How can we achieve this in QuickFile Accounts portal

Regards

A4All

Hi @A4ALL

Unfortunately the base currency is locked to GBP, so all reporting is locked to GBP.

However, we do support multi-currency, so you are able to have bank accounts in currencies other than GBP.

I hope this helps, but if you have any further questions, please don’t hesitate to ask.

It is possible to file your accounts with Companies House in USD, although your tax computations and CT600 must be in GBP, as your company’s tax liability will always be calculated in GBP.

We can look at providing an option to output your profit & loss and balance sheet in USD (or another foreign currency). It’s not supported as yet, but that’s certainly something we can look into.

That would be great. If you make base currency available other than GBP, that will make your software being able to use by non UK based company. And as you mentioned if the output of final accounts can be done in a foreign currency then that would be say in GBP for tax filing purposes. Some of my clients which I want to move to QF have India and Euro companies and would all like to use QF but as this is nnot available we have to use alternative cloud platform.

Hi @A4ALL

We’re very keen to stay focussed on the UK market at this time, for that reason we’re not planning to support non-GBP as a base currency right now. That said we would like to allow users to output their financial accounts in different currencies.

Over the weekend we rolled out an update to the P&L report that will allow you to view the report in any of your preferred currncies. Later we will be extending this to the balance sheet.

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