That... seems correct, although in some jurisdictions (eg Singapore) my understanding is you can choose to report all your numbers in a different currency than the local one.
But... having to report numbers in EUR, doesn't mean having to convert to EUR. So you are *not* actually a victim of the currency fluctuation because the conversion didn't happen.
I could tell you right now that your 2024 revenue was 150 billion Zimbabwe dollars, and I could tell you next week that sorry, newsflash, 2024 revenue is actually 75 billion Zimbabwe dollars.
This wouldn't change your ability to pay your vendors (or yourself) in any way, because you don't really hold a ZWG account, so... whatever my spreadsheet says about that currency's fluctuations is immaterial to your actual business.
Cash power (ability to purchase the things you need) is what matters, so by keeping your USD and spending it on your USD purchases, you're somewhat shielded from the forex issue. (Though US inflation is another problem)
But... having to report numbers in EUR, doesn't mean having to convert to EUR. So you are *not* actually a victim of the currency fluctuation because the conversion didn't happen.
I could tell you right now that your 2024 revenue was 150 billion Zimbabwe dollars, and I could tell you next week that sorry, newsflash, 2024 revenue is actually 75 billion Zimbabwe dollars.
This wouldn't change your ability to pay your vendors (or yourself) in any way, because you don't really hold a ZWG account, so... whatever my spreadsheet says about that currency's fluctuations is immaterial to your actual business.
Cash power (ability to purchase the things you need) is what matters, so by keeping your USD and spending it on your USD purchases, you're somewhat shielded from the forex issue. (Though US inflation is another problem)