Currency Migration

A rare capability. The reason clients come to us.

Odoo does not support changing the functional currency of an existing company. The supported path is a new company in the new currency, a full migration of opening balances and reference data, and an archive of the old entity. That migration is invasive, error-prone if done manually, and has no room for “close enough” on audit-sensitive figures. We built a repeatable process for it.

The methodology

1. Archive the legacy company — no new transactions, but full historical read-access preserved.
2. Create the new company — same chart, policies, and reference data as the legacy, but denominated in the target currency.
3. Migrate reference data — customers, vendors, products, accounts, fiscal positions, pricelists.
4. Publish the FX rate table — before any monetary field is converted, the rate table is signed off by your finance team. Rates are auditable and reproducible.
5. Convert monetary fields — every monetary field in every model we have identified gets converted with documented rules for rounding, precision, and carry.
6. Audit report — a line-by-line ledger of every converted figure: old value, rate applied, new value, source record.
7. UAT and cutover — standard migration discipline applies.

Where currency migrations get interesting

• Multi-company groups where one company moves and the others stay — consolidations need to handle both.
• Ongoing contracts, subscriptions, and pricelists with multi-currency terms.
• Open invoices, uninvoiced manufacturing costs, WIP balances.
• Statutory reporting that needs historical continuity.

We have handled each of these. The deliverable you care about is the audit report — the one your auditors will ask for, and that we produce by default.