Question

Can I set the company to be Canadian currency if all my transaction are in that currency?

Forum|Forum|4 years ago
January 29, 2022
2 replies
0 views

I don't do multi currency but instead all my transactions are in Canadian Dollars. I can't download from the Canadian bank because QB thinks I am in US currency

QuickBooks Online

M

Mark_R

It's good to see you here in the Community, @kevin-dick-att-n.

Allow me to provide information on how QuickBooks handles multiple currencies.

QuickBooks automatically set the Home currency to the country where your business is physically located. Since you're in the US, QuickBooks will set your home currency to the US currency. That said, you can't assign your company to a Canadian currency. Instead, you can utilize the multicurrency feature to track transactions in foreign currencies.

In addition, imported transactions and bank feeds will need to be in whatever set as your home currency.

I'm adding these articles to learn more about multicurrency:

Please let me know if you need clarification about this, or there's anything else I can do for you. I'll be standing by for your response, @kevin-dick-att-n.

D

debcpa1

If I am located in the US, but the business is located in CAN and transacting all in CAN dollars, can the company file be set up with CAD as the home currency? Would all transactions be converted to USD? I'd like all transactions to be kept in CAD. How would I accomplish that? Thank you.