How to forecast your cash flow in different currencies?

Does your company receive or make payments in different currencies? If you use a spreadsheet for cash flow forecasting, things can get complicated and confusing. For example, if you accidentally interpet DKK, NOK or SEK amounts as EUR and mislead yourself about the true state of your company’s cash flow.

But it is so much easier with Tailwind as it now supports multi-currency mode and shows your forecast in your main currency!

Your main currency depends on the country you select when registering your Tailwind account. It will be EUR for the eurozone countries, SEK for Sweden, PLN for Poland, DKK for Denmark etc.

Your current balance and expected cash balances will be shown in your main currency. If you have bank accounts in other currencies, Tailwind will recalculated the imported balances in your main currency. It will use he latest currency exchange rates of the European Central Bank for the conversion.

Tailwind supports all currencies of the European Union countries as well as CAD, GBP, NOK and USD.

When adding a new transaction, your main currency will be selected by default:

To choose another currency, click on the Currency drop-down.

Just like with account balances, amounts for transactions in currencies other than your main currency will be recalculated using the rates of the European Central Bank.

If you have planned transactions in currency other than your main currency, your Tailwind account will do transaction matching in each currency separately. For example, it will only match NOK transactions in your forecast against NOK transactions received from your bank.

Different currrencies should not necessarily mean complexity. At least not with tailwindapp.eu!