Difference between business, account, and transaction currency

Business currency

Account currency

Transaction currency

Business currency

This is the currency your business operates in and is chosen when setting up your
business in Wave. All of your financial reports use your business currency. To view your
business currency:

1. Click your business name in the top right corner.
2. Click Business settings.
3. From the Settings menu, click Dates & Currency.

Your business currency cannot be modified once you set up your business.

Account currency

This is the currency of an asset or liability account and is the same currency as your bank account. Set the currency when you add a new account to your Chart of Accounts.

Transaction currency

The currency of a transaction may change depending on the account the transaction belongs to. The Account manually chosen for the transaction, or the account on the bank statement upload or auto-import determines its currency.