How do I set up a bank transfer for a Canadian client to pay my USA based business in $US?

As I know QB Payment doesn't support this. You need a 3rd party solution to integrate with QBO. Are you running a B2B or B2C company?

It's a pleasure to have you in the Community today.

In QuickBooks Online (QBO), we have a feature called Multicurrency. This option allows you to pay and get paid in the foreign currencies of customers, vendors, or bank accounts that don't use your home currency. Once enabled, you can add transactions in another currency, and QBO handles all currency conversions automatically. However, you'll want to note that once the Multicurrency is active, there isn't a way to turn it off. I'll gladly write the steps below to get you going:

1. Access your QuickBooks Online company.
2. On the top-right corner, click the Gear icon and then select Account and settings.
3. Go to the Advanced tab, and then in the Currency section, select Edit ✎.
4. From the Home Currency ▼ dropdown, select your currency.
5. Select the Multicurrency checkbox and confirm that you understand that you can't undo this option.
6. Click the Save button.

If you've already set your Canada-based client and their currency to Canadian in your QBO company, then it's easier to do a bank transfer to your USA-based business and pay you in US dollars. Also, after enabling the option, you'll want to create account that uses a foreign currency in your Chart of accounts. This way, you can add funds to that account and then later on do a bank transfer from that Canadian account to your US bank account. Here's how:

1. Go to Settings .
2. Select Chart of accounts (Take me there) then New.
3. Choose Select category then select Bank and credit cards.
4. Fill out the Category name and select Account type from the menu.
5. Select Currency from the dropdown menu.
6. Fill out Starting date and opening balance when you’ll start tracking business transactions. Enter the amount you had in the account on that day.
7. Fill out Description field. Select Save.

For more details, refer to this article: Set up and use multicurrency in QuickBooks Online.

Once everything is ready, proceed to do the bank transfer. See this page for further guidelines: Record and make bank deposits in QuickBooks Online.

In addition, you may want to ensure your number stays accurate inside QBO. You can visit this page to learn how to generate business report inside the program: Run reports in QuickBooks Online.

As always, feel free to post here again if you need further assistance managing foreign bank transfers or have additional QuickBooks-related queries. The Community space is open 24/7, and we'll be here to help you. Take care!