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beth-anchorortho
December 12, 2023
Question

How can I match one lump CAD payment transaction from the bank to multiple USD bill payments? They don't appear when I toggle "foreign currency" in "Find Other Matches".

  • December 12, 2023
  • 1 reply
  • 0 views
I operate in CAD, and pay multiple bills from one USD vendor every month on an autopay plan by credit card. The bills are listed in USD with the exchange rate of the day it was sent, and the CAD equivalent that will be due. If I mark the bills as paid individually in QBO based on the exchange rate written on them, I am unable to match multiple bill payments to the downloaded transaction. Is there a way around this, or do I have to just do one lump bill payment with one exchange rate and write off the balance left over as a foreign currency exchange rate loss?

1 reply

T
Trish_T
December 12, 2023

Hi beth-anchorortho,

 

It's great to see you in Community.  Welcome!  Multicurrency can have some challenges when it comes to matching your transactions.  However, don't worry, QuickBooks Online provides the features you need so you can reconcile your accounts with confidence.  I would be happy to help!

 

Until you recalculate the home currency value using current exchange rates, the home currency value is based on the exchange rates used at the time of each transaction.  You can change the home currency value, based on updated rates.  Here's how;

 

1. Open your Settings ⚙, then select Currencies

2. Under the Actions column, select the ▼ dropdown menu, for the currency you want to adjust, then Revalue Currency

3. Enter a date to run a currency revaluation

4. Decide whether you'd like it to be based on the market exchange rate or a rate you specify

5. Select the account you want to apply the revaluation to

6. Hit Revalue.

Note; Only one exchange rate can be saved per day per account. 

You should be able to match your transactions and reconcile your account!

 

If you have other questions, please don't hesitate to reach out.  We are always glad to assist!

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