Can I track 2 bank accounts with different currencies?

You can utilize the multicurrency feature in QuickBooks Online (QBO), wenns. This will help you track the transactions from your bank accounts that use a currency other than your local currency.

This feature gives you the ability to record transactions in foreign currencies. However, this is only available in the Essentials and Plus versions of QBO.

You can turn this on by going to the Account and settings. But before doing so, please note that once you turn the multicurrency feature on, you can't turn it off.

Here's how:

1. In QBO, go to the Gear (Settings) icon at the top right.
2. Select Account and settings.
3. Click the Advanced tab on the left pane.
4. Tick Edit ✎ in the Currency section and choose your Home Currency.
5. Select the Multicurrency checkbox and confirm that you understand that you can't undo this option.
6. Once done , hit Save and close.

After that, you can now add the bank account that uses a foreign currency. Here's how:

1. Go back to the Gear (Settings) icon
2. Select Chart of Accounts.
3. Click New.
4. In the Account dialog, choose the appropriate Account Type and Detail Type.
5. Enter a Name for the new account.
6. Pick the foreign currency from the Currency ▼ drop-down menu.
7. Hit Save and close.

Once done, the assigned currency is listed in the Currency column on the Chart of Accounts. To learn more about managing and using multicurrency feature in QBO, check out this article: Turn on and use multicurrency in QuickBooks Online.

I'm also adding this article that tackles frequently asked questions about this feature: Multi-currency FAQ.

For more tips and other resources, I recommend visiting our website for future reference: Self-help articles.

Please let me know if you have follow-up questions about this or anything else. I'm always here to assist. Keep safe.