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January 16, 2023
Question

Can I set up to receive payments in multiple currencies where the money goes to separate accounts (as they are different bank account numbers?

  • January 16, 2023
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1 reply

January 16, 2023

Hi doug@skylineento,

 

Welcome to Community!  QuickBooks Online has the flexibility you need to receive payments from your customers in their currency.  I'd be glad to assist!

 

When you turn on Multicurrency, you'll have the ability to add customers with their currency.  Please be advised, Multicurrency cannot be turned off.  When you create invoices, sales receipts and other forms, the currency and exchange rates will be applied.  You can also add accounts in your Chart of Accounts to record the transactions.  Here's how;

 

1. Open your Settings ⚙ and select Chart of Accounts

2. Click New to create an account

3. In the Account Type ▼ dropdown, choose the type

4. Select the Detail Type from the ▼ dropdown that best fits the transactions you want to track. Learn more about detail types.

5. Give the account a Name

6. Enter a Description

7. If this is a subaccount of an existing account, select Is sub-account and then enter the parent account. Learn more about parent accounts and subaccounts.

8. To make sure the account in QuickBooks matches your real-life bank or credit card account, choose when you want to start tracking your finances. In the Balance field, enter the Amount in the account, and determine the As of date. Enter today's date if you want to start tracking immediately.

9. When you're done, hit Save and Close.

 

If you have any other questions, feel free to reach back out.  We'd be happy to help!