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slowbooks3
October 9, 2021
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When uploading CSV imports in QB Self Employed online, how do you specify a currency that is not the set one? My quickbooks is in GBP but the missing transactions are for an account where i receive EUR.

  • October 9, 2021
  • 1 reply
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I am trying to solve an issue and the help assistants have been beyond terrible in trying to sort it.

 

I logged onto my Quickbooks self employed online and i am missing transactions into multiple accounts. After struggling with having to get my CSV's all sorted, i have managed to upload all of my GBP missing transactions to the accounts. I have one account where i get paid transactions in EUR. When I try to upload my CSV files into this, the transactions appear in GBP instead of EUR. 

 

I have tried putting EUR into the description, and (EUR) but both of them have not worked. 

Best answer by Rubielyn_J

Thanks for getting back to this thread, @slowbooks3. Let me clarify things on how currencies work in QuickBooks Self-Employed.

 

Your third bank account shows some transactions in euros because the system receives the data depends on what your Financial Institution shares with us. 

 

The program itself cannot manage multicurrency because this feature is only available in QuickBooks Online and Desktop. Then if you want to calculate the conversion for the tax return, you'll need to do that manually as suggested by Jen_D.

 

Additionally, I'm adding these resources to know more about how multi-currency works in QuickBooks:

 

 

In case you need help with categorizing your transactions in QuickBooks Self-Employed, you can refer to this article: Categorise transactions in QuickBooks Self-Employed. This will help guide you on how to report your self-employed income and expenses.

 

Feel free to drop a reply below if you have further questions about managing your banking transactions. I'll be happy to assist you again. Keep safe and have a good day.

1 reply

Jen_D
Jen_D
October 9, 2021

It's good to see you here, @edlecorgne.

 

Allow me to share some insights about adding a different currency in QuickBooks Self-Employed.

 

QuickBooks Self-Employed (QBSE) doesn't have the ability to track multiple currencies. As a workaround, you can manually calculate the conversion amount and add it as a regular transaction in the program. Make sure to put a not so you can track this EUR entry.

 

To add a transaction, follow the steps below:

 

  1. Go to the Transaction menu and select Add Transaction.
  2. Enter the amount and a description.
  3. Select the Select a category menu. Select the best category to organise your transaction. Learn more about categories.
  4. If you have a receipt, you can drag and drop it onto the form.
  5. When you’re done, select Save.

 

Come back to our forum for other questions or clarifications with banking or the import process in QuickBooks Self-Employed. I'm always here to help. Have a nice day!

S
slowbooks3Author
October 10, 2021

Hi there Jen,

 

Thanks for the response but I don't quite understand it - you say QBSE doesn't track multiple currencies but inside my GBP account I can see the EUR payments that I have received? In my QBSE i have a few different bank accounts, broken down like this.

 

My QBSE account is in GBP

bank account 1 = transactions in GBP

bank account 2 = transactions in GBP

bank account 3 = business income transactions in EUR 

 

the ones from bank account 3 are all in EUR, except for the missing ones that I cannot add in EUR via the CSV import. 

 

Furthermore, with the exchange rate changing, at what point would i calculate the conversion to GBP in order for it to align with my self assessment tax return? 

 

thanks.

 

Rubielyn_J
Rubielyn_JAnswer
October 10, 2021

Thanks for getting back to this thread, @slowbooks3. Let me clarify things on how currencies work in QuickBooks Self-Employed.

 

Your third bank account shows some transactions in euros because the system receives the data depends on what your Financial Institution shares with us. 

 

The program itself cannot manage multicurrency because this feature is only available in QuickBooks Online and Desktop. Then if you want to calculate the conversion for the tax return, you'll need to do that manually as suggested by Jen_D.

 

Additionally, I'm adding these resources to know more about how multi-currency works in QuickBooks:

 

 

In case you need help with categorizing your transactions in QuickBooks Self-Employed, you can refer to this article: Categorise transactions in QuickBooks Self-Employed. This will help guide you on how to report your self-employed income and expenses.

 

Feel free to drop a reply below if you have further questions about managing your banking transactions. I'll be happy to assist you again. Keep safe and have a good day.

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