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March 2, 2022
Question

QBO Canada - We made a sale for $67 USD converted to $83 CDN. The $67 USD was deposited into the USD bank account. How do I match the payment to the client invoice?

  • March 2, 2022
  • 1 reply
  • 0 views
QBO Canada - We made a sale for $67 USD converted to $83 CDN. The $67 USD was deposited into the USD bank account. How do I match the payment to the client invoice?

1 reply

March 2, 2022

Hi userrinoruzich,

 

It's nice to see you in Community.  Welcome back!  QuickBooks Online has the features you need to balance your transactions with foreign currency.  I'll be happy to help!

 

In this type of situation, you'll need to create a home currency adjustment.  This will change the value of foreign balances based on the new rate.  Reports will show the home currency based on exchange rates applied when the transaction was initially created.  It's always best to consult with your accountant before making this type of adjustment.  If you don't have one, we can assist you with locating a ProAdvisor in your local area.

 

If you have any other questions, we're here for you!