Multi-currency fund

Pour :Administrateur

Unisoft allows a single Fund to accept donations in multiple currencies. Ideal for international communities (French synagogue with an American diaspora, organization spanning multiple countries).

The functioning rests on a central principle:

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A single goal, in the main currency

A multi-currency Fund does not have multiple goals. It has a single goal expressed in the main currency of your organization. The donations received in other currencies are converted automatically to this main currency (exchange rate at the payment date), then added to the gauge.

How it works concretely

Take a Fund "Grand hall renovation" whose:

• The main currency of the organization is EUR
• The goal is 20,000 €
• The active currencies on the Fund are EUR, USD, ILS

Three donors contribute:

Donor	Currency	Amount	Conversion to EUR (day's rate)	Added to the gauge
David Cohen (Paris)	EUR	500 €	— (already in EUR)	+ 500 €
Sarah Lévy (New York)	USD	600 $	600 USD × 0.92	+ 552 €
Yossi Mizrahi (Tel Aviv)	ILS	1,000 ₪	1,000 ILS × 0.25	+ 250 €

The gauge displays 1,302 € collected out of 20,000 € (i.e., 6.5%).

On the accounting side, each payment is kept in its original currency, but it is the value converted to EUR that is used for the progress calculation.

The conversion rate

The rate used is the one in effect at the payment date (not at today's date nor at the Fund's creation date). The converted amount is frozen: if the rate changes tomorrow, your Fund is not recalculated.

Technically, the field stored for each payment is called convertedAmount. It always represents the value in the main currency, and it is this that is used for all Unisoft aggregations (Fund gauges, budgets, statistics).

Enable the secondary currencies

The multi-currency of a Fund depends on the currencies active at the level of your organization.

1. 1

   Check the active currencies of your organization

   In My account → My organization, look at the list of active currencies. If only EUR appears there, the Funds can only accept donations in EUR.

2. 2

   Request the addition of a currency (if needed)

   The addition of a new active currency goes through the Unisoft team. Contact support to enable USD, ILS, GBP, etc. depending on your needs.

3. 3

   Once the currency is enabled, it applies to the whole organization

   All your existing Funds automatically become multi-currency (without action on your part) — the currency selector appears on their public page.

Accounting routing per currency ([currency].assoc)

If your organization manages several legal entities (for example a French association + an American 501(c)(3)), you can automatically route the payments according to their currency to the right accounting entity.

Concretely, in the edit form of a Fund, you can define a distinct association per currency:

Currency	Attached accounting association
EUR	French association (default, MAIN)
USD	American association
ILS	Israeli association

A payment in USD will then be automatically recorded under the American association — useful for the production of tax receipts compliant with each jurisdiction.

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Without configuration per currency, everything goes to the main association

If you do not set anything specific, all payments (regardless of currency) are attached to the main association (MAIN) of the Fund. The "accounting" multi-currency is only useful if you really have several legal entities to separate.

Donor side: the selector on the public page

On the public page of a multi-currency Fund, the donor has a currency selector that allows them to choose which currency they want to pay in.

• The donor chooses their currency.
• The amount they enter (or choose via a predefined button) is in that currency.
• At the time of payment, it is this amount that is debited (not a conversion).
• On the Unisoft side, the payment is recorded in its original currency, and converted to the main currency for the Fund aggregation.

The goal on the public page

On the donor side, the progress gauge of the Fund is expressed in the organization's main currency, regardless of the currency selected for the payment. For our previous example, an American donor paying in USD sees the gauge in EUR ("1,302 € out of 20,000 €").

Tax receipts

The tax receipt of a donation is issued:

• In the donation's currency (not converted)
• In the name of the association attached to this currency (or the main association if nothing has been parameterized)
• According to the tax rules of the country of the attached association

For the details on the tax receipt itself, see Tax receipts.

Points of vigilance

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The exchange rate can move

As the conversion is frozen at the payment date, a goal reached "on paper" may, in case of strong rate fluctuation, not correspond exactly to the actual cumulative purchasing power. It is rare on Funds of a few months, but to keep in mind on long collections or in periods of strong monetary instability.

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Main currency = reference accounting currency

The main currency is not just a display: it is also the one in which your budgets, Booklets, and global statistics are consolidated. Before enabling multiple currencies, check that the main currency chosen is indeed the right one (usually that of the main legal headquarters).

To remember

• A single goal per Fund, in the main currency of the organization
• Payments in secondary currencies are automatically converted at the day's rate to feed the gauge
• The assoc field per currency allows routing the payments to the right legal entity (useful if you have several associations)
• The donor chooses which currency they pay in; the gauge remains displayed in the main currency
• The tax receipt is in the donation's currency, in the name of the attached association