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GrapegirlJoan
February 23, 2023
Question

multicurrency

  • February 23, 2023
  • 1 reply
  • 0 views

I am using QB desktop and have years of data, as company has grown I am looking to change to multicurrency.  I have review videos and saw one suggestion that any account in the GL be changed to zero before the switch then recreated in the US (or Euro) currency once switched on.  I see that all account I have will be in Cdn as it has transaction data. So am I correct in creating new accounts for the US or Euro account that I am currently using? Likewise with vendor/customers will I have to create new vs only stating that they are now another currency.

making the switch Monday, so any help is appreciated

1 reply

A
Amanda-B
February 23, 2023

Hey there GrapegirlJoan,

 

Welcome to the QuickBooks Community! Thanks for reaching out to us here. QuickBooks Desktop is a great software that can help make managing your business smoother. I would be happy to provide some information. 

 

Multicurrency is a great feature to use! You can create new accounts and customers in Desktop for foreign currencies. Keep in mind that once multicurrency has been turned on, there isn't a way to disable it. Here is a helpful guide on how to set up and use Multicurrency. If you require further assistance, I recommend reaching out to the support team outside of the Community as they have the ability to verify your account details in a secure setting, as well as view your screen to better assist you. You can reach them by following the method in this link.

 

If you have any other questions, feel free to reach back out to us.

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