Xero provides partial support for multicurrency handling, specifically, it allows bank accounts and invoices to be denominated in a currency other than an organisation's base currency. However, assets and liabilities store their values converted to the base currency.
This creates a variety of issues for businesses transacting in multiple currencies, as demonstrated by discussions on the Xero feature request site (https://community.xero.com/business/discussion/1502020) and elswhere on AccountingWeb (https://www.accountingweb.co.uk/any-answers/xero-is-recording-discrepanc...).
Can anyone recommend an alternative accounting service in Xero's price range - i.e. ~£50/mo. - that supports a full multicurrency ledger and reporting?