Wise Statement to Excel: Multi-Currency Guide

TL;DR A Wise account usually holds several currency balances, and each balance behaves like its own account. To get a clean Wise statement into Excel, produce a statement for each currency balance for the period you need, convert it so every transaction is one row, and check that each balance's opening amount plus all activity equals its closing amount. Treat currency conversions as transfers between your own balances, keep Wise's fees as separate expense rows, and never add amounts in different currencies together without a Currency column and a clear exchange-rate method. Once every balance reconciles, you can stack them, translate them into your home currency and use them for bookkeeping or tax preparation.

Wise (formerly TransferWise) is popular with freelancers, remote workers, small online businesses and anyone who gets paid or pays suppliers in more than one currency. That flexibility is the whole point, but it makes the spreadsheet side trickier than a normal bank account. A single month can include a client payment in US dollars, a conversion to euros, a card purchase in pounds, and a fee in a fourth currency.

This guide shows how to turn that into something your accountant, your tax return or your own budget can use. It covers how Wise statements are structured, getting the right files, converting them, handling conversions and fees, a worked example, and how to translate everything into a single reporting currency. Wise's app and website change over time, so we describe options generally rather than giving exact menu paths.

How a Wise account is structured

The most important thing to understand is that a Wise account is not one balance. It's a container holding one or more currency balances. You might have a USD balance, a EUR balance and a GBP balance, each with its own amount, its own transactions, and often its own account details for receiving money.

That has practical consequences:

• Each currency balance needs its own statement and its own balance check. There's no single "Wise balance" that all the transactions add up to.
• A currency conversion appears in two places. Converting 1,000 USD to EUR reduces the USD balance and increases the EUR balance. In your spreadsheet, that's two rows in two different currencies.
• Card purchases may come from different balances. Depending on your settings and which balances have money, a card payment in one currency might be taken from a balance in another currency, with an automatic conversion.
• Fees can be charged in the source currency. A transfer or conversion fee usually reduces the balance it came from.

Personal and business Wise accounts work similarly for this purpose. Business accounts may have more users, cards and integrations, but the statement logic is the same.

Getting the right files

Wise generally lets you create statements for a currency balance over a date range you choose, and offers a few file formats. Depending on your account and region, you may see options such as PDF and spreadsheet-style formats, and sometimes formats intended for accounting software. Check what your account offers.

Which should you use?

• PDF statements are the formal, human-readable record. They're what you'd hand to a landlord, lender or immigration officer, and they show the balance at the start and end of the period. If someone asks for "statements", send PDFs.
• Spreadsheet exports are convenient for analysis, but check what they include. Some exports focus on transaction detail and may not present an opening and closing balance the same way the PDF does.
• Accounting integrations can push transactions straight into software. They're handy going forward, but they don't help if you need to rebuild past periods or check what was already imported.

A good approach for bookkeeping is to use whichever format is easiest to convert, but always keep the PDF statement for each balance and period as your reference for the opening and closing figures.

Name files clearly, including the currency: wise-usd-2026-q1.pdf, wise-eur-2026-q1.pdf. Mixing up which file belongs to which balance is the most common source of confusion.

Converting Wise statements to rows

If you have spreadsheet exports, you can start there. If you have PDFs, you have three options:

• Copy and paste works for a page or two but tends to break columns, especially where descriptions include reference numbers and exchange-rate details.
• Power Query in Excel for Windows can pull tables out of PDFs. See our Power Query bank statement guide.
• SheetStatement converts the PDF to one row per transaction, produces a signed amount, and checks opening and closing balances before export. The free plan includes 3 pages a month; Starter ($9), Pro ($19) and Business ($39) monthly plans handle more.

Whatever you use, aim for this layout for each currency balance:

The Balance column (USD, EUR, GBP and so on) and the Currency column are usually the same for a single balance's statement, but keeping both explicit helps once you combine files. If the export shows fees as separate lines, keep them as separate rows. If fees appear in a column next to the transaction, decide whether to split them into their own rows; for bookkeeping, separate rows are usually easier.

Step 1: check each balance on its own

For every currency balance and period:

=ROUND(Opening + SUM(Amount) - Closing, 2)

If the export shows fees in a separate column rather than as their own rows, include them:

=ROUND(Opening + SUM(Amount) - SUM(Fee) - Closing, 2)

Adjust the signs to match how your file presents fees. The result should be zero. If it isn't:

• Off by one transaction: a row is missing.
• Off by a fee amount: fees are either missing or counted twice (once inside the amount and once in the fee column).
• Off by a conversion: one side of a conversion is missing, or you're looking at the wrong balance.

If there's a running balance column, add a row-level check to find exactly where things go wrong:

=ROUND(H1 + E2 - H2, 2)

Our running balance formula guide explains how to adapt that check if fees sit in their own column.

Don't move on until every currency balance reconciles for every period.

Step 2: handle conversions as transfers

A conversion moves money between your own balances. It isn't income or an expense, though there's usually a fee, and the exchange rate means the two sides are in different currencies.

For example, converting 1,000.00 USD to EUR might produce:

All figures here are illustrative, not real rates or real fees.

When you categorize:

• Tag both conversion rows as Transfer: currency conversion so they don't show up as income or expense.
• Tag the fee as Bank and transfer fees.
• Add a Link ID (for example CONV-0210-01) to both sides so you can always see which rows belong together. Many Wise exports include a transaction reference you can use for this.

To check that every conversion has both sides, build a small table of Link IDs with COUNTIFS. Each ID should appear exactly twice, once negative and once positive, in different balances.

Step 3: separate fees properly

Wise's fees are often small, but they add up and, for a business, they're typically a deductible cost. Keep them visible:

• If fees come as separate rows, label them consistently with a "Fee" category.
• If fees are in a column, consider adding a separate fee row for each, so pivot tables and accounting imports pick them up.
• Don't net fees into the transfer amount. If you received 2,000 USD from a client and a fee was taken, record 2,000 of income and the fee as an expense, rather than a smaller income figure, unless your accountant tells you otherwise.

Worked example: a freelancer's quarter

Say you're a freelance designer based in the euro area. Clients pay you in USD and GBP, and you spend mostly in EUR. Your Wise account has three balances.

USD balance, January to March:

GBP balance:

EUR balance:

All figures are illustrative.

Three separate balance checks, one per currency, must each return zero, using that balance's own opening and closing figures. Then:

• Income is the client payments: 6,400 USD and 1,500 GBP. The conversions are transfers.
• Expenses include the software subscription, co-working rent and the conversion fees.
• The transfer to your home bank is a transfer between your own accounts, and it should match a deposit on your home bank statement.

In the GBP balance, the conversion amount plus the fee equals the full 1,500.00 received, so the balance ends the quarter at zero. If your own check fails on a balance like this, look at whether the fee was taken from that balance or from another one, and whether the conversion amount shown already includes the fee.

Step 4: translate to your reporting currency

For bookkeeping and tax purposes, you'll usually need everything in one currency: your home currency or your business's functional currency. How you do that matters, and the right method depends on your jurisdiction and accounting approach, so check with your accountant. Common approaches include:

• The rate on the transaction date for each row, from a consistent source.
• The actual rate achieved, for conversions you made through Wise, because you know exactly how much of the home currency you received.
• An average rate for a period, where your tax authority allows it.

In Excel, keep a rates table with columns for Date, Currency and Rate, and look up the rate for each row:

=XLOOKUP(1, (Rates[Date]=B2)*(Rates[Currency]=G2), Rates[Rate], "", 0)

Then add a Home Amount column: =E2*RateCell. For the home currency balance itself, the rate is 1.

Whatever method you use, write it down in a notes sheet. Consistency, and being able to explain how you did it, matters more than the specific choice. This is general information, not tax or accounting advice.

Combining everything

Once each balance reconciles and you've tagged conversions and fees:

1. Stack all balances into one table with the Balance and Currency columns filled.
2. Add the Home Amount column using your rate method.
3. Build a pivot table on Home Amount with Category as rows and month as columns. Filter out transfers to see true income and expenses.
4. Keep a per-balance check table at the front of the workbook.

Our guide to combining multiple bank statements in Excel covers the mechanics, and our pivot table guide shows how to build the summary.

Importing into accounting software

Most accounting software expects one bank account per currency. In tools that support multiple currencies, you'd typically set up a separate bank account for each Wise balance and import each balance's transactions into its matching account. Conversions then become transfers between those accounts.

• For Xero, check the Xero CSV import format and common Xero import errors.
• For QuickBooks Online, see importing a bank statement into QuickBooks Online. Multi-currency features vary by plan and region.

Check that your software's date format matches your file, and import one balance at a time.

Using Wise statements as proof of funds or income

Wise statements are also used outside bookkeeping: for rental applications, visa applications and lender checks. A few points apply.

• Send the official statement, not your spreadsheet. Your Excel file is a working tool. The recipient will almost always want the PDF statement for each relevant balance, as produced by Wise.
• Show the right balances. If you're proving funds in a particular currency, provide that balance's statement. If your money is spread across several balances, provide each one and be ready to explain conversions.
• Make income easy to follow. If clients pay you in a foreign currency, your spreadsheet can help you prepare a clear summary, such as monthly income in each currency and in your home currency, to accompany the statements.

Requirements differ between landlords, lenders and countries, so check exactly what's asked for. Our guides to bank statements for visa applications and proof of income for the self-employed go into more detail.

Common problems

Card payments taken from an unexpected balance. If a card payment in one currency was funded by another balance through an automatic conversion, the row will appear in the funding balance's statement. Search all balances before deciding a transaction is missing.

Refunds in a different amount. A refund for a purchase that involved a conversion may not return the exact original amount because rates move. Record the actual amounts on each side.

Amounts as text. Remove currency symbols, codes and thousands separators, then use VALUE. If your file uses a comma as the decimal separator, use NUMBERVALUE(A2, ",", ".").

Duplicates at period boundaries. If you created overlapping date ranges, some transactions appear twice. See removing duplicate transactions in Excel, and use the balance check to decide what's real.

Long descriptions with references. If descriptions pack the payer, reference and rate into one field, our guide to splitting bank transaction descriptions in Excel shows how to pull them apart.

Turn your Wise statements into Excel

Upload your Wise statement PDFs to SheetStatement, check each balance, and export to Excel or CSV. Start with the free plan's 3 pages a month to test it on a real statement.

FAQ

Does Wise give one statement for my whole account?

A Wise account usually holds several currency balances, and each one typically has its own statement and its own opening and closing figures. Convert and check each balance separately.

How should I record a currency conversion?

As a transfer between two of your own balances: a negative row in the source currency and a positive row in the target currency. Record any fee as a separate expense row.

Are Wise fees deductible?

For a business, transfer and conversion fees are often treated as an expense, but rules depend on your jurisdiction. This is general information, not tax advice; check with your accountant.

Which exchange rate should I use to report in my home currency?

Common choices are the rate on each transaction date, the actual rate achieved on conversions, or an allowed average rate. Use one consistent method and confirm it with your accountant.

Why doesn't my balance check work?

Usually a fee is missing or counted twice, one side of a conversion is in a different balance, or a row was dropped. Use the running balance column to find the first line that fails.

Can I give converted Wise statements to my accountant?

Yes, a reconciled spreadsheet is usually welcome, alongside the original PDF statements for each currency balance.

Is it safe to upload Wise statements?

See the security page for how SheetStatement handles files, and read any service's policy before uploading financial documents.

How much does SheetStatement cost?

The free plan includes 3 pages a month. Starter is $9 a month, Pro is $19 and Business is $39.