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October 4, 2019
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Anyone know how to change currency for second bank accountSetting up to Bank accounts:Bank account 1 = GBPBank account 2 = USD

  • October 4, 2019
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Best answer by RCV

Let me share some information about changing the bank account's currency, dave62.

 

If you already turn on the Mutlcurrency feature, the existing bank accounts will be in your home currency by default. To change the currency of the second account, you'll need to create a new bank account that uses foreign currency for USD.

 

Here's how:

 

  1. Click Accounting in the left menu.
  2. Choose Chart of Accounts.
  3. Click New.
  4. In the Account dialog, choose the appropriate Account Type and Detail Type.
  5. Enter a Name for the new account and an optional Description as well as any other required fields.
  6. Choose the foreign currency to assign to the account from the Currency ▼ drop-down menu.
  7. Click Save and Close.

Then, you'll need to disconnect the existing bank account for USD to link the new one for automatic updates. Just follow the steps in the Disconnect an account section in this article: Disconnect or delete an account from the Downloaded Transactions page.

 

Once done, add and connect the new bank account to automatically download the recent transactions.

 

For the old transactions (more than 90 days) that were downloaded using the existing bank accounts, you can manually upload them in QuickBooks Online (QBO).

 

I have articles here about Multicurrency:

 

You can always add some details below if you need anything else in QBO. I'd be glad to help.

1 reply

RCVAnswer
October 4, 2019

Let me share some information about changing the bank account's currency, dave62.

 

If you already turn on the Mutlcurrency feature, the existing bank accounts will be in your home currency by default. To change the currency of the second account, you'll need to create a new bank account that uses foreign currency for USD.

 

Here's how:

 

  1. Click Accounting in the left menu.
  2. Choose Chart of Accounts.
  3. Click New.
  4. In the Account dialog, choose the appropriate Account Type and Detail Type.
  5. Enter a Name for the new account and an optional Description as well as any other required fields.
  6. Choose the foreign currency to assign to the account from the Currency ▼ drop-down menu.
  7. Click Save and Close.

Then, you'll need to disconnect the existing bank account for USD to link the new one for automatic updates. Just follow the steps in the Disconnect an account section in this article: Disconnect or delete an account from the Downloaded Transactions page.

 

Once done, add and connect the new bank account to automatically download the recent transactions.

 

For the old transactions (more than 90 days) that were downloaded using the existing bank accounts, you can manually upload them in QuickBooks Online (QBO).

 

I have articles here about Multicurrency:

 

You can always add some details below if you need anything else in QBO. I'd be glad to help.