This guide is for Wise Business customers, explaining how to manage discrepancies in your accounting integration system — such as Xero and QuickBooks — caused by the returns from your use of Stocks or Interest.
How Accounting Integration works with Wise Assets
When you use Stocks or Interest, you purchase units in a fund. These units change in value over time. You don't receive returns as payments — instead, your balance or Jar is updated every trading day, based on the latest price of the units.
These changes in value don’t automatically appear in your accounting statements. This is because the accounting integration tool primarily tracks movements of money in and out of your account, such as deposits and withdrawals.
When the price of your units are updated, no money moves in or out of your account. This can create a mismatch between the figures in your Wise Account, and those in your accounting software.
How to reconcile the mismatch in the amount
The accounting integration doesn't automatically capture the changes in the price of your units in the fund. So at the end of each reporting period, you'll need to manually adjust your accounting records to reflect the change in the price of your units in the fund.
You'll need to create a manual ledger, which will reconcile the updated value of these units. This is similar to how you would report a revaluation of any other asset. Always consult with your accountant software provider if you're unsure how to do this.
Downloading a holdings statement
To find the information you need, you should download a holdings statement. This will tell you the number of units, and the value of those units, on the day you specify.
You can do this on the website:
Go on your profile at the top
Select Statements and reports
Select Holdings statement