Overview
Audit Sight supports global audit and advisory teams working across multiple currencies. The platform is currency-agnostic, meaning it can work with USD, EUR, GBP, and many other currencies. However, Audit Sight does not automatically convert between currencies.
For Audit Sight’s automation, matching, and workpapers to function correctly, all uploaded data within an engagement must use the same currency. This includes both accounting data and banking data.
This article explains best practices on how to deal with banking data to ensure it always properly aligns with the currency used in the accounting data no matter how the banking data is provided.
Key Currency Requirements
✔️ Any currency is supported
âť— All accounting and banking data must be uploaded in one consistent currency
âť— Audit Sight does not perform automatic currency conversion
If banking and accounting data are uploaded in different currencies, matching logic (banking data to accounting) will not function as intended.
Option 1 (Recommended): Use Data Conversion Services
The most efficient and recommended approach is to send your data to Audit Sight’s Data Conversion Services team.
How it works:
- Submit your data in any format using the standard Data Conversion process
- No formatting or preprocessing is required on your end
- The Data Conversion team will:
- Handle all file formats (PDF, Excel, etc.)
- Perform currency conversions
- Prepare and upload your data into Audit Sight
Benefits:
- No manual effort required
- Eliminates risk of conversion or formatting errors
- Works regardless of file format or currency complexity
Option 2: Convert the Data Yourself
If you prefer to manage the process internally, you can convert and upload the data yourself using one of the following paths.
When to Use the DIY Method
Use the DIY approach when:
You want to control how the exchange rate is applied
You have access to exchange rates aligned with the accounting records
You want to avoid full-service Data Conversion Services
If you need translation, complex extraction, or end-to-end conversion support, use Audit Sight Data Conversion Services instead.
Language Requirements (Applies to All DIY Paths)
Recommendation -> Transaction descriptions must be in English
Audit Sight’s AI-driven categorization are designed to work on English transaction descriptions. For best results convert the bank descriptions using a LLM before uplaoding.
Supported DIY Paths
Audit Sight supports two DIY workflows depending on the format of your banking data:
Path 1: Banking transactions already available in Excel
Path 2: Banking transactions only available as PDF bank statements
Both paths ultimately result in uploading banking transactions using the Audit Sight template in the same currency as the accounting data.
Data Requirements (Both Paths)
You will need:
The Audit Sight upload template (available in the platform)
Complete banking transaction data
Historical exchange rates from the banking currency to the accounting currency covering the full transaction date range
Where to Find the Audit Sight Template
In Audit Sight, navigate to:
Select your client → + Add Data→ Upload Data Using Template → Download Template
Path 1: Banking Transactions Already in Excel
Use this path when you already have transaction-level banking data in Excel.
Important Considerations
Transaction descriptions should be in English
Original currency amounts may be kept in helper columns for reference
1. Download the standard Audit Sight template file above. For uploading banking data, you will only need the Banking Accts tab and the Banking Txns tab. You can leave the remaining tabs blank unless you are also uploading accounting data.
2. In the Banking Accts tab of the template, enter all the bank accounts included in your banking transactions. Make sure to include all accounts with transactions here.
Note: Each account number must be unique.
3. In the Banking Txns tab, enter the posted date, description, and account number for each transaction.
The amount column must be in USD, so it is often easiest to paste the transaction amounts in the local currency in a column off to the right so they are easy to reference, like in the screenshot below.
In the next step, we will convert the amounts from local currency to USD using daily historical exchange rates.
4. Download historical exchange rates from a source like OANDA or Yahoo Finance spanning the entire date range of bank transactions.
Look up the exchange rate on the date of each transaction using a formula like VLOOKUP like in the screenshot below.
5. Convert each transaction from local currency to USD using the daily exchange rates. Enter these values into the Amount column of the Audit Sight template like in the screenshot below.
6. Upload the populated template to Audit Sight using the self-service portal.
Path 2: Banking Transactions Only Available as PDFs (Paid Option)
Use this path when your client provides bank statements only in PDF format and you want to use Audit Sight to extract the transactions before converting the currency.
Important Considerations
This is a paid option
PDF extraction is billed under Audit Sight Optional Services, per your firm’s agreement.-
English-language statements are required
PDF extraction works only on English statements
Audit Sight’s AI banking categorization is designed for English descriptions
Non-English PDFs must be handled using full Data Conversion Services
Step 1: Upload Bank Statement PDFs
Upload the PDF bank statements using the standard banking upload workflow in Audit Sight.
Step 2: Download Extracted Transactions
Once processing is complete:
Navigate to the Banking Data UI
Download the extracted transactions in Excel format
Step 3: Ignore the System-Extracted Bank Accounts
Navigate to the Bank Account Mapping Section of the application.
Ignore the bank accounts that contain the wrong transactions.
This ensures Audit Sight does not use the unconverted transation.
Step 4: Convert the transactions Using Path 1.
Need Help?
If you are unsure which currency your files use or which path is appropriate, contact:
Your Customer Success Representative, or
