What is the most common reporting currency used in OneStream COA?

The most common reporting currency used in OneStream Chart of Accounts (COA) is the organization's functional currency. The functional currency refers to the currency of the primary economic environment in which an entity operates. It is used for financial reporting and consolidating financial statements across different subsidiaries or segments within the organization.

Using the functional currency as the primary reporting currency ensures that the financial records accurately reflect the organization's economic activities. It allows for consistency in financial reporting, simplifies consolidation processes, and aids in compliance with accounting standards that require transactions to be reported in the currency in which they occur.

This choice takes into account the diverse nature of many organizations that may have international operations with varying local currencies. By centering reporting around the functional currency, OneStream facilitates a clearer understanding of financial performance and position as it aligns with how management and stakeholders view financial health.

While other currencies like the US Dollar or the Euro may be significant in global finance, the preference for the organization's functional currency lies in its relevance to the entity’s operational context and financial reporting standards. The local currency of the subsidiary is also relevant but primarily supports local transactions rather than serving as the core reporting currency for the entire organization.