How can I change the Year End Exchange rate to match ATO rate

Reporting & tax
1

It appears Sharesight is using a 2 decimal USD to AUD exchange rate for year end reporting however the ATO (Tax Office) rates use the RBA rate and are set to 4 decimal places.
I have prepared my 30 June 22 year end accounts for our super fund based on my Sharesight reports which have translated all of the USD holdings at a rate of 0.69 however the ATO rate is 0.6889. The auditors have revalued all investments to the ATO rate which means I now need to re do my accounts.

One of the main reasons I use the Pro version of Sharesight is to be able to easily generate year end reporting for tax purposes. If it does not use the ATO rate then I will have to go back to manually recalculating balances and movements using excel which defeats the purpose of using Sharesight!

Is there a way I can override the year end exchange rates in Sharesight to avoid this or can you please use the ATO rates for Year end reporting?

2

Hi @JFK we use OER API (Open Exchange Rates | Sharesight Australia Partner) for our exchange rate so it will be slightly different from RBA rate. The only way to override the rates in your portfolio is to reimport all of your trades using a csv file import that include a column that specify the exchange rate you wish to use.

Please send us a chat or email (support@sharesight.co.nz) if you like to discuss this further.