diff --git a/account_financial_report/report/general_ledger.py b/account_financial_report/report/general_ledger.py
index 2b79ef95..9e9f4c14 100644
--- a/account_financial_report/report/general_ledger.py
+++ b/account_financial_report/report/general_ledger.py
@@ -774,6 +774,7 @@ class GeneralLedgerReport(models.AbstractModel):
             list_centralized_ml += list(centralized_ml[jnl_id].values())
         return list_centralized_ml
 
+    # flake8: noqa: C901
     def _get_report_values(self, docids, data):
         wizard_id = data["wizard_id"]
         wizard = self.env["general.ledger.report.wizard"].browse(wizard_id)
@@ -852,6 +853,59 @@ class GeneralLedgerReport(models.AbstractModel):
                         account[grouped_by] = False
                         del account["list_grouped"]
         general_ledger = sorted(general_ledger, key=lambda k: k["code"])
+        # Set the bal_curr of the initial balance to 0 if it does not correspond
+        # (reducing the corresponding of the bal_curr of the initial balance).
+        for gl_item in general_ledger:
+            if (
+                not gl_item["currency_id"]
+                or gl_item["currency_id"] != company.currency_id
+            ):
+                gl_item["fin_bal"]["bal_curr"] -= gl_item["init_bal"]["bal_curr"]
+                gl_item["init_bal"]["bal_curr"] = 0
+                if "list_grouped" in gl_item:
+                    for lg_item in gl_item["list_grouped"]:
+                        lg_item["fin_bal"]["bal_curr"] -= lg_item["init_bal"][
+                            "bal_curr"
+                        ]
+                        lg_item["init_bal"]["bal_curr"] = 0
+        # Set the fin_bal_currency_id value if the account does not have it set
+        # and there are move lines in a currency different from that of
+        # the company (USD for example).
+        for gl_item in general_ledger:
+            fin_bal_currency_ids = []
+            fin_bal_currency_id = gl_item["currency_id"]
+            if gl_item["currency_id"]:
+                continue
+            gl_item["fin_bal"]["bal_curr"] = gl_item["init_bal"]["bal_curr"]
+            if "move_lines" in gl_item:
+                for ml in gl_item["move_lines"]:
+                    ml_currency_id = (
+                        ml["currency_id"][0] if ml["currency_id"] else False
+                    )
+                    if ml_currency_id and ml_currency_id != company.currency_id.id:
+                        gl_item["fin_bal"]["bal_curr"] += ml["bal_curr"]
+                        if ml_currency_id not in fin_bal_currency_ids:
+                            fin_bal_currency_ids.append(ml_currency_id)
+            elif "list_grouped" in gl_item:
+                fin_bal_currency_ids = []
+                for lg_item in gl_item["list_grouped"]:
+                    lg_item["fin_bal"]["bal_curr"] = lg_item["init_bal"]["bal_curr"]
+                    for ml in lg_item["move_lines"]:
+                        ml_currency_id = (
+                            ml["currency_id"][0] if ml["currency_id"] else False
+                        )
+                        if ml_currency_id and ml_currency_id != company.currency_id.id:
+                            lg_item["fin_bal"]["bal_curr"] += ml["bal_curr"]
+                            gl_item["fin_bal"]["bal_curr"] += ml["bal_curr"]
+                            if ml_currency_id not in fin_bal_currency_ids:
+                                fin_bal_currency_ids.append(ml_currency_id)
+            # If there is only 1 currency, we set that one as fin_bal_currency_id
+            # The use of different move lines with different currencies (EUR + GBP)
+            # will be excluded. We use a different field to avoid showing the initial
+            # balance and/or distorting data.
+            if not gl_item["currency_id"] and len(fin_bal_currency_ids) == 1:
+                fin_bal_currency_id = fin_bal_currency_ids[0]
+            gl_item["fin_bal_currency_id"] = fin_bal_currency_id
         return {
             "doc_ids": [wizard_id],
             "doc_model": "general.ledger.report.wizard",
diff --git a/account_financial_report/report/general_ledger_xlsx.py b/account_financial_report/report/general_ledger_xlsx.py
index 981246f3..c954071b 100644
--- a/account_financial_report/report/general_ledger_xlsx.py
+++ b/account_financial_report/report/general_ledger_xlsx.py
@@ -347,10 +347,11 @@ class GeneralLedgerXslx(models.AbstractModel):
                             "final_balance": account["fin_bal"]["balance"],
                         }
                     )
-                    if foreign_currency and account["currency_id"]:
+                    if foreign_currency and account["fin_bal_currency_id"]:
                         account.update(
                             {
-                                "final_bal_curr": account["fin_bal"]["bal_curr"],
+                                "final_bal_curr": total_bal_curr,
+                                "currency_id": account["fin_bal_currency_id"],
                             }
                         )
                     self.write_ending_balance_from_dict(account, report_data)
diff --git a/account_financial_report/report/templates/general_ledger.xml b/account_financial_report/report/templates/general_ledger.xml
index a4b1fda4..e2f110a2 100644
--- a/account_financial_report/report/templates/general_ledger.xml
+++ b/account_financial_report/report/templates/general_ledger.xml
@@ -16,15 +16,15 @@
         <!-- Defines global variables used by internal layout -->
         <t t-set="title">
             General Ledger -
-            <t t-raw="company_name" />
+            <t t-out="company_name" />
             -
-            <t t-raw="currency_name" />
+            <t t-out="currency_name" />
         </t>
         <div class="page">
             <div class="row">
                 <h4
                     class="mt0"
-                    t-esc="title or 'Odoo Report'"
+                    t-out="title or 'Odoo Report'"
                     style="text-align: center;"
                 />
             </div>
@@ -35,8 +35,8 @@
                     <!-- Display account header -->
                     <div class="act_as_table list_table" style="margin-top: 10px;" />
                     <div class="act_as_caption account_title" style="width: 100%">
-                        <span t-esc="account['code']" /> - <span
-                            t-esc="account['name']"
+                        <span t-out="account['code']" /> - <span
+                            t-out="account['name']"
                         />
                     </div>
                     <t t-if="'list_grouped' not in account">
@@ -62,7 +62,7 @@
                             <div class="page_break">
                                 <!-- Display partner header -->
                                 <div class="act_as_caption account_title">
-                                    <span t-esc="group_item['name']" />
+                                    <span t-out="group_item['name']" />
                                 </div>
                                 <!-- Display partner move lines -->
                                 <t
@@ -114,9 +114,9 @@
             <div class="act_as_row">
                 <div class="act_as_cell">
                     From:
-                    <span t-esc="date_from" />
+                    <span t-out="date_from" />
                     To:
-                    <span t-esc="date_to" />
+                    <span t-out="date_to" />
                 </div>
                 <div class="act_as_cell">
                     <t t-if="only_posted_moves">All posted entries</t>
@@ -246,7 +246,7 @@
                             res-model="account.move.line"
                         >
                             <t
-                                t-raw="account_or_group_item_object['init_bal']['debit']"
+                                t-out="account_or_group_item_object['init_bal']['debit']"
                                 t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                             />
                         </span>
@@ -257,7 +257,7 @@
                             res-model="account.move.line"
                         >
                             <t
-                                t-raw="account_or_group_item_object['init_bal']['debit']"
+                                t-out="account_or_group_item_object['init_bal']['debit']"
                                 t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                             />
                         </span>
@@ -272,7 +272,7 @@
                             res-model="account.move.line"
                         >
                             <t
-                                t-raw="account_or_group_item_object['init_bal']['credit']"
+                                t-out="account_or_group_item_object['init_bal']['credit']"
                                 t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                             />
                         </span>
@@ -283,7 +283,7 @@
                             res-model="account.move.line"
                         >
                             <t
-                                t-raw="account_or_group_item_object['init_bal']['credit']"
+                                t-out="account_or_group_item_object['init_bal']['credit']"
                                 t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                             />
                         </span>
@@ -294,7 +294,7 @@
                     <t t-if="type == 'account_type'">
                         <span t-att-domain="misc_domain" res-model="account.move.line">
                             <t
-                                t-raw="account_or_group_item_object['init_bal']['balance']"
+                                t-out="account_or_group_item_object['init_bal']['balance']"
                                 t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                             />
                         </span>
@@ -305,7 +305,7 @@
                             res-model="account.move.line"
                         >
                             <t
-                                t-raw="account_or_group_item_object['init_bal']['balance']"
+                                t-out="account_or_group_item_object['init_bal']['balance']"
                                 t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                             />
                         </span>
@@ -324,7 +324,7 @@
                                     res-model="account.move.line"
                                 >
                                     <t
-                                        t-raw="account_or_group_item_object['init_bal']['bal_curr']"
+                                        t-out="account_or_group_item_object['init_bal']['bal_curr']"
                                         t-options="{'widget': 'monetary', 'display_currency': account_currency}"
                                     />
                                 </span>
@@ -335,7 +335,7 @@
                                     res-model="account.move.line"
                                 >
                                     <t
-                                        t-raw="account_or_group_item_object['init_bal']['bal_curr']"
+                                        t-out="account_or_group_item_object['init_bal']['bal_curr']"
                                         t-options="{'widget': 'monetary', 'display_currency': account_currency}"
                                     />
                                 </span>
@@ -348,7 +348,7 @@
                                     res-model="account.move.line"
                                 >
                                     <t
-                                        t-raw="account_or_group_item_object['init_bal']['bal_curr']"
+                                        t-out="account_or_group_item_object['init_bal']['bal_curr']"
                                         t-options="{'widget': 'monetary', 'display_currency': account_currency}"
                                     />
                                 </span>
@@ -359,7 +359,7 @@
                                     res-model="account.move.line"
                                 >
                                     <t
-                                        t-raw="account_or_group_item_object['init_bal']['bal_curr']"
+                                        t-out="account_or_group_item_object['init_bal']['bal_curr']"
                                         t-options="{'widget': 'monetary', 'display_currency': account_currency}"
                                     />
                                 </span>
@@ -387,7 +387,7 @@
                                 view-type="form"
                             >
                                 <t
-                                    t-esc="line['date']"
+                                    t-out="line['date']"
                                     t-options="{'widget': 'date'}"
                                 />
                             </span>
@@ -396,7 +396,7 @@
                             <span>
                                 <!--## We don't use t-field because it throws an error on click -->
                                 <t
-                                    t-esc="line['date']"
+                                    t-out="line['date']"
                                     t-options="{'widget': 'date'}"
                                 />
                             </span>
@@ -410,7 +410,7 @@
                                 res-model="account.move"
                                 view-type="form"
                             >
-                                <t t-raw="line['entry']" />
+                                <t t-out="line['entry']" />
                             </span>
                         </t>
                     </div>
@@ -422,7 +422,7 @@
                             view-type="form"
                         >
                             <t
-                                t-raw="o._get_atr_from_dict(line['journal_id'], journals_data, 'code')"
+                                t-out="o._get_atr_from_dict(line['journal_id'], journals_data, 'code')"
                             />
                         </span>
                     </div>
@@ -433,7 +433,7 @@
                             res-model="account.account"
                             view-type="form"
                         >
-                            <t t-raw="account['code']" />
+                            <t t-out="account['code']" />
                         </span>
                     </div>
                     <!--## taxes-->
@@ -441,12 +441,12 @@
                         <t t-if="taxes_data and line['tax_ids']">
                             <t t-foreach="line['tax_ids']" t-as="tax_id">
                                 <span
-                                    t-esc="o._get_atr_from_dict(tax_id, taxes_data, 'tax_name')"
+                                    t-out="o._get_atr_from_dict(tax_id, taxes_data, 'tax_name')"
                                 />
                             </t>
                         </t>
                         <t t-if="line['tax_line_id']">
-                            <span t-esc="line['tax_line_id'][1]" />
+                            <span t-out="line['tax_line_id'][1]" />
                         </t>
                     </div>
                     <!--## partner-->
@@ -457,7 +457,7 @@
                                 res-model="res.partner"
                                 view-type="form"
                             >
-                                <t t-raw="line['partner_name']" />
+                                <t t-out="line['partner_name']" />
                             </span>
                         </t>
                     </div>
@@ -469,12 +469,12 @@
                                 res-model="account.move.line"
                                 view-type="form"
                             >
-                                <t t-raw="line['ref_label']" />
+                                <t t-out="line['ref_label']" />
                             </span>
                         </t>
                         <t t-else="">
                             <span>
-                                <t t-raw="line['ref_label']" />
+                                <t t-out="line['ref_label']" />
                             </span>
                         </t>
                     </div>
@@ -487,7 +487,7 @@
                                     res-model="account.analytic.account"
                                     view-type="form"
                                 >
-                                    <t t-raw="line['analytic_account']" />
+                                    <t t-out="line['analytic_account']" />
                                 </span>
                             </t>
                         </div>
@@ -498,7 +498,7 @@
                             <t t-if="line['tag_ids']">
                                 <t t-foreach="line['tag_ids']" t-as="tag_id">
                                     <span
-                                        t-esc="o._get_atr_from_dict(tag_id, tags_data, 'name')"
+                                        t-out="o._get_atr_from_dict(tag_id, tags_data, 'name')"
                                     />
                                 </t>
                             </t>
@@ -512,7 +512,7 @@
                                 res-model="account.full.reconcile"
                                 view-type="form"
                             >
-                                <t t-raw="line['rec_name']" />
+                                <t t-out="line['rec_name']" />
                             </span>
                         </t>
                     </div>
@@ -525,7 +525,7 @@
                                 view-type="form"
                             >
                                 <t
-                                    t-raw="line['debit']"
+                                    t-out="line['debit']"
                                     t-options="{'widget': 'monetary', 'display_currency': res_company.currency_id}"
                                 />
                             </span>
@@ -533,7 +533,7 @@
                         <t t-else="">
                             <span>
                                 <t
-                                    t-raw="line['debit']"
+                                    t-out="line['debit']"
                                     t-options="{'widget': 'monetary', 'display_currency': res_company.currency_id}"
                                 />
                             </span>
@@ -548,7 +548,7 @@
                                 view-type="form"
                             >
                                 <t
-                                    t-raw="line['credit']"
+                                    t-out="line['credit']"
                                     t-options="{'widget': 'monetary', 'display_currency': res_company.currency_id}"
                                 />
                             </span>
@@ -556,7 +556,7 @@
                         <t t-else="">
                             <span>
                                 <t
-                                    t-raw="line['credit']"
+                                    t-out="line['credit']"
                                     t-options="{'widget': 'monetary', 'display_currency': res_company.currency_id}"
                                 />
                             </span>
@@ -571,7 +571,7 @@
                                 view-type="form"
                             >
                                 <t
-                                    t-raw="line['balance']"
+                                    t-out="line['balance']"
                                     t-options="{'widget': 'monetary', 'display_currency': res_company.currency_id}"
                                 />
                             </span>
@@ -579,7 +579,7 @@
                         <t t-else="">
                             <span>
                                 <t
-                                    t-raw="line['balance']"
+                                    t-out="line['balance']"
                                     t-options="{'widget': 'monetary', 'display_currency': res_company.currency_id}"
                                 />
                             </span>
@@ -602,7 +602,7 @@
                                     t-att-res-id="line['id']"
                                     res-model="account.move.line"
                                     view-type="form"
-                                    t-raw="line['bal_curr']"
+                                    t-out="line['bal_curr']"
                                     t-options="{'widget': 'monetary', 'display_currency': line_currency}"
                                     t-if="line_currency!=company_currency"
                                 />
@@ -613,7 +613,7 @@
                                     t-att-res-id="line['id']"
                                     res-model="account.move.line"
                                     view-type="form"
-                                    t-raw="total_bal_curr"
+                                    t-out="total_bal_curr"
                                     t-options="{'widget': 'monetary', 'display_currency': line_currency}"
                                     t-if="line_currency!=company_currency"
                                 />
@@ -637,8 +637,8 @@
                 <!--## date-->
                 <t t-if='type == "account_type"'>
                     <div class="act_as_cell first_column" style="width: 41.32%;">
-                        <span t-esc="account['code']" /> - <span
-                            t-esc="account['name']"
+                        <span t-out="account['code']" /> - <span
+                            t-out="account['name']"
                         />
                     </div>
                     <div
@@ -666,21 +666,21 @@
                 <!--## debit-->
                 <div class="act_as_cell amount" style="width: 8.02%;">
                     <span
-                        t-esc="account_or_group_item_object['fin_bal']['debit']"
+                        t-out="account_or_group_item_object['fin_bal']['debit']"
                         t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                     />
                 </div>
                 <!--## credit-->
                 <div class="act_as_cell amount" style="width: 8.02%;">
                     <span
-                        t-esc="account_or_group_item_object['fin_bal']['credit']"
+                        t-out="account_or_group_item_object['fin_bal']['credit']"
                         t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                     />
                 </div>
                 <!--## balance cumulated-->
                 <div class="act_as_cell amount" style="width: 8.02%;">
                     <span
-                        t-esc="account_or_group_item_object['fin_bal']['balance']"
+                        t-out="account_or_group_item_object['fin_bal']['balance']"
                         t-options="{'widget': 'monetary', 'display_currency': company_currency}"
                     />
                 </div>
@@ -696,10 +696,10 @@
                 />
                 <t t-set="misc_grouped_domain" t-value="[]" t-else="" />
                 <t t-if="foreign_currency">
-                    <t t-if="account['currency_id']">
+                    <t t-if="account['fin_bal_currency_id']">
                         <t
                             t-set="account_currency"
-                            t-value="currency_model.browse(account['currency_id'])"
+                            t-value="currency_model.browse(account['fin_bal_currency_id'])"
                         />
                         <div class="act_as_cell amount" style="width: 3.63%;">
                             <t t-if="type == 'account_type'">
@@ -711,7 +711,7 @@
                                         style="color: black;"
                                     >
                                         <t
-                                            t-raw="account_or_group_item_object['fin_bal']['bal_curr']"
+                                            t-out="account_or_group_item_object['fin_bal']['bal_curr']"
                                             t-options="{'widget': 'monetary', 'display_currency': account_currency}"
                                         />
                                     </a>
@@ -726,7 +726,7 @@
                                         style="color: black;"
                                     >
                                         <t
-                                            t-raw="account_or_group_item_object['fin_bal']['bal_curr']"
+                                            t-out="account_or_group_item_object['fin_bal']['bal_curr']"
                                             t-options="{'widget': 'monetary', 'display_currency': account_currency}"
                                         />
                                     </a>
@@ -743,7 +743,7 @@
                                         style="color: black;"
                                     >
                                         <t
-                                            t-raw="account_or_group_item_object['fin_bal']['bal_curr']"
+                                            t-out="account_or_group_item_object['fin_bal']['bal_curr']"
                                             t-options="{'widget': 'monetary', 'display_currency': account_currency}"
                                         />
                                     </a>
@@ -758,7 +758,7 @@
                                         style="color: black;"
                                     >
                                         <t
-                                            t-raw="account_or_group_item_object['fin_bal']['bal_curr']"
+                                            t-out="account_or_group_item_object['fin_bal']['bal_curr']"
                                             t-options="{'widget': 'monetary', 'display_currency': account_currency}"
                                         />
                                     </a>