Multi-Currency Financial Reports from Multiple Zoho Books Organisations in Zoho Analytics
Requirement Overview:
The user has multiple instances( organisation) of Zoho Books with different base currencies (EUR, GBP, INR, SEK). The user wants to create consolidated reports (P&L, Balance Sheet, Cash Flow) for all four organisations and view the consolidated Zoho Analytics report data in EUR currency.
Business Use Case:
If your business has, for example, One store in the Europe and One in UK, the below process helps you creating a consolidated Analytics report for similar scenarios using Zoho Analytics. We need to create tables to consolidate the data from all organisations and convert their different base currencies into a single base currency.
Lets set up Multi-Currency Consolidation in Zoho Analytics:
Creating Instances:
We created two instances of Zoho Books - one with the Indian Edition (with INR as the base currency) and the other with the Global Edition (with MYR as the base currency).
We created two instances of Zoho Books - one with the Indian Edition (with INR as the base currency) and the other with the Global Edition (with MYR as the base currency).
Import Data:
After creating the two instances, we imported sample data into the transactional modules of both Zoho Books organizations.
Field Mapping:
Field Mapping:
During the data import process, we encountered some mapping errors and took the time to ensure accurate field mapping. Additionally, we manually created some modules to prevent any future issues when uploading data to Zoho Analytics.
Unify Tables:
Unify Tables:
Once all the data was uploaded into both Zoho Books instances, we imported both organizations into the same workspace in Zoho Analytics. To import multiple instances of Zoho Books into Zoho Analytics, Please follow these steps:
Permissions and Availability:
i) Only the Super Admin or Admin can perform this operation.
ii) The Admin need to be same for both the applications (Zoho Books and Zoho Analytics.
Step 1- How to Import Data in Zoho Analytics?
>> Visit analytics.zoho.eu and click on "Import Your Data". (refer to Screenshot 1)
Screenshot 1:-
Step 2- How to import other Zoho Books Instance in same workspace?
>> After importing the first organization, a workspace will be created in Zoho Analytics. To import the other Zoho Books instances into the same workspace, follow these steps:
1. Open the respective workspace created during the single import.
2. Click on "Create" and then select "New Table / Import Data" (refer to Screenshot 2).
Screenshot 2:-
>> Search for "Zoho Books" and select it (refer to Screenshot 3).
Screenshot 3:-
>> Search for "Zoho Books" and select it (refer to Screenshot 3).
Screenshot 3:-
>> Choose the organization you want to import and follow the same steps performed during the first import (refer to Screenshot 4).
Screenshot 4:-
Once all organizations are imported into the same workspace and all the data is available, we can proceed to the next step.
Step 3: How to remove the currency symbol from the currency field?
>> In the transactional module of one of the organizations, we removed the currency symbol from the currency field (refer to Screenshot 5) . This step was necessary as the currency symbol in the transaction field may differ from the currency code field.
Screenshot 5:-
Formatting the column to remove the currency symbol:
To remove the currency symbols, select the column, right-click, choose "Format Column," and select "None" for currency (refer to Screenshot 6). Repeat this process for all transaction columns.
Screenshot 6:-
We made the same change in the other organization's module as well. To find the module in the other organization under the same workspace, follow these steps (refer to Screenshot 7):
1. Open the workspace.
2. Locate the module and repeat the process of removing currency symbols.
Screenshot 7:-
Once the currency symbols were removed, we wrote queries to consolidate the data and display it in a table. We then created reports based on these queries. To write the queries, follow these steps:
1. Click on "Create" and then select "Create Query" (refer to Screenshot 8).
2. For each transaction column, create a query with the currency rates and check if the data appears (refer to Screenshot 9).
1. Click on "Create" and then select "Create Query" (refer to Screenshot 8).
2. For each transaction column, create a query with the currency rates and check if the data appears (refer to Screenshot 9).
Screenshot 8:-
Screenshot 9:-
Sample SQL query is provided below:
SELECT
"Account ID",
"Cash Transaction ID",
"Currency Code",
CASE
WHEN "Currency Code" = 'INR' THEN 0.011 * "Taxable Amount (BCY)"
WHEN "Currency Code" = 'USD' THEN 0.92 * "Taxable Amount (BCY)"
ELSE NULL
END as 'Taxable Amount (BCY)',
CASE
WHEN "Currency Code" = 'INR' THEN 0.011 * "Taxable Amount (FCY)"
WHEN "Currency Code" = 'USD' THEN 0.92 * "Taxable Amount (FCY)"
ELSE NULL
END as 'Taxable Amount (FCY)',
CASE
WHEN "Currency Code" = 'INR' THEN 0.011 * "Transaction Amount (BCY)"
WHEN "Currency Code" = 'USD' THEN 0.92 * "Transaction Amount (BCY)"
ELSE NULL
END as 'Transaction Amount (BCY)',
CASE
WHEN "Currency Code" = 'INR' THEN 0.011 * "Transaction Amount (FCY)"
WHEN "Currency Code" = 'USD' THEN 0.92 * "Transaction Amount (FCY)"
ELSE NULL
END as 'Transaction Amount(FCY)',
"Transaction ID"
FROM "Cash Transactions (Zoho Books)"
UNION ALL
SELECT
"Account ID",
"Cash Transaction ID",
"Currency Code",
CASE
WHEN "Currency Code" = 'MYR' THEN 0.20 * "Taxable Amount (BCY)"
WHEN "Currency Code" = 'USD' THEN 0.92 * "Taxable Amount (BCY)"
ELSE NULL
END as 'Taxable Amount (BCY)',
CASE
WHEN "Currency Code" = 'MYR' THEN 0.20 * "Taxable Amount (FCY)"
WHEN "Currency Code" = 'USD' THEN 0.92 * "Taxable Amount (FCY)"
ELSE NULL
END as 'Taxable Amount (FCY)',
CASE
WHEN "Currency Code" = 'MYR' THEN 0.20 * "Transaction Amount (BCY)"
WHEN "Currency Code" = 'USD' THEN 0.92 * "Transaction Amount (BCY)"
ELSE NULL
END as 'Transaction Amount (BCY)',
CASE
WHEN "Currency Code" = 'MYR' THEN 0.20 * "Transaction Amount (FCY)"
WHEN "Currency Code" = 'USD' THEN 0.92 * "Transaction Amount (FCY)"
ELSE NULL
END as 'Transaction Amount(FCY)',
"Transaction ID"
FROM "Cash Transactions"
We have attached a sample query for the modules of different organizations. Please use this query for the other modules to combine the data.
Note: The currency rates used in the query are manually entered. If the user wishes to change them, they can adjust the rates based on market fluctuations for each currency.
Furthermore, by enabling lookups between the query table and other tables, you can create reports based on the consolidated data. To create a lookup, follow these steps (refer to Screenshot 10):
1. Go to the Query Table.
2. Click on "More" and then select "Manage Look-up" to add the lookup.
Screenshot 10 :-
Screenshot 10 :-
In conclusion, by following the above steps, we were able to import two different instances of Zoho Books with different base currencies. We created query tables to convert different currencies to EUR using conversion rates for each currency, thereby consolidating the data into a single view.
Custom solution created by Abbas Hasan | Zoho Partner Support
If you need any further clarifications, please don’t hesitate to contact partner-support@zohocorp.com
Additionally, we kindly ask all "Europe and UK" partners to reach out to partner-support@eu.zohocorp.com
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