Base Currency

## Base Currency (Definition) In Fiskl, the base currency refers to the primary currency used for accounting purposes, also known as the company currency.

The base currency is the foundation for financial reporting and analysis in Fiskl. It's the currency in which the company maintains its books of accounts and prepares financial statements. All transactions in foreign currencies are converted to the base currency for consistent financial reporting. When setting up a Fiskl account, users specify their base currency, which typically aligns with the main currency used in their business operations or required by local regulations. This ensures accuracy in financial records and simplifies compliance with accounting standards and tax requirements.