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chris195
July 25, 2024
Question

Bank Connect Doesn't Handle Multi-currency account correctly

  • July 25, 2024
  • 1 reply
  • 0 views

My bank (Bank of East Asia - Business Banking (HK)) has a multi-currency account (CPLUS-SSA)

However, when I connect to quickbooks, instead of allowing me to link each currency to a different account, it only allows me to choose one to link to. (Refers to attachment)

And even if I link it to a single account, let's say "BEA Savings HKD", it will pull all different currency's account and treat it as if they are all HKD. So my USD, JPY, KRW account transactions will all be added to my HKD transactions, and this made this bank connection not work at all.

This issue has been happening since I first subscribed to quickbooks, and I has reported it a few years ago but it's still not fixed. I will be extremely thankful if this issue could be resolved as right now I have to do all of these manually, and I am not sure if the ever increasing subscription is worth the value.

1 reply

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MirriamM
July 25, 2024

I appreciate you sharing your experience with your bank account with different currencies, chris195. And I'm here to let you know that your opinion and feedback are greatly appreciated.

 

Here at Intuit, it's our goal to address the needs of every QuickBooks user around the globe and make sure you get the best experience possible. And I can see the inconvenience this has caused you when managing your transactions.

 

At this time, once your bank account is connected to online banking in QuickBooks Online (QBO), the currency downloaded to your account defaults to your home currency set up in your account and settings. That is why your transactions are all treated as HKD. As a workaround, you can manually add your transactions with different currencies to QBO.

 

While we continue to make your experience with us even better, in the meantime, I recommend sending this request straight to our product engineers through feedback. It helps us improve the features of the program.

 

To send feedback, follow the below steps:

 

  1. Go to the Gear icon at the top.
  2. Select Feedback.
  3. Enter your comments or product suggestions. 
  4. Then select Next to submit feedback.

 

If you want to review information about home currency adjustments in the future, you can refer to this article for more information: Frequently Asked Questions about Home currency adjustments.

 

If there's anything else you need help with in managing your transactions, please let me know by commenting below, chris195. We're always here to answer any questions you may have.

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