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M
mary154
February 17, 2022
Question

Using multi currency doesn’t charge the right amount of an invoice. It converts the foreign currency amount to an equal usd instead of the conversion currency amount. Fix

  • February 17, 2022
  • 2 replies
  • 0 views
Invoice shows correct foreign currency amount, but when going to pay by credit card it takes the correct foreign currency amount and makes it a USD amount and doesn’t use the correct USD amount from the invoice. Have designated the customer with a foreign currency in acct.

2 replies

L
LeizylM
February 17, 2022

Welcome to Community, mary154.

 

Allow me to provide some clarification about using multi-currency in QuickBooks Online.

 

When creating an invoice, you'll see two amounts: one in your home currency and one in the foreign currency. I've got a screenshot as your reference.

 

 

Also, when making payment via credit card, the amount will the same as on the invoice, both in foreign currency and in US dollars.

 

 

To give you more insights with multi-currency in QuickBooks, please refer to these links:

 

You always get back to me if you have any other multi-currency concerns. or have follow-up questions about QuickBooks. I'd be more than willing to lend you a hand.

M
mary154Author
February 17, 2022

The invoicing with 2 currencies is correct. It is incorrect when going to add payment with credit card. Notice on these 2 screen shots what QuickBooks did. It took the GBP amount and made is the USD currency amount to charge.

M
mary154Author
February 17, 2022

Did you see my 2 screen shots? Understand the problem?

T
TirzahC
February 17, 2022

Hello,  mary154.

 

Normally, the system will use the current rate on the day those invoices are created, which is why rates may fluctuate. 

 

If you want to use today's rate or update all the invoices with the rate you want, you'll need to do it manually. Open one GBP transaction then input the conversion rate.

 

Please note that once you turn on the multicurrency, you can't undo. Also, you're unable to change the currency for an existing customer. You'll need to create a new one with a different profile and be sure to select the foreign currency during creation.

 

Let me guide you how:

 

  1. Go to the Gear icon located on the upper right side. 
  2. Click the Advanced tab. 
  3. Hit the Edit button perpendicular to Currency. 
  4. Choose your Home currency in the drop-down arrow. 
  5. Put a check marked on the Multi-currency, then tick the box in the I understand I cant undo Multi-currency.
  6. Tap Save, then Done.

 

To learn more about Multicurrency reports and basic tasks in QuickBooks Online, check out the following links:

 

 

For other questions about Multicurrency on invoices or other topics concerning our program, feel free to mention me anytime. I'll be right here to help. Have a wonderful day!

M
mary154Author
February 17, 2022

You are not understanding the problem in quickbooks. I have already turned on multi currency. When showing the 2 currencies on the invoice, correctly, the card reader will replace the foreign currency amound with a dollar sign. So, £33 is $40. When charging a credit card, the program replaces the £ with the $ sign and tries to charge in this example $33 instead of £33. Does theproblem seem to be clear now? I am having to put all invlices in USD in the UK because of this. Clients want to see how many sterling they are getting charged not USD, but we can't use the multi currency or we are going to go bankrupt if we try to show them £ amounts, because credit card reader wont charge the correct amount.

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