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Navneet Singhal
July 5, 2022
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Transaction in two foreign currency

  • July 5, 2022
  • 1 reply
  • 0 views

I have a situation. My Home Currency is INR, and I do have multi-currency transactions. Until now I was basically converting anything between local currency INR and 1 foreign currency. But Now I moved funds from 1 Foreign currency bank account to another foreign currency bank account. How to record this, Quickbooks gives an error that only 1 foreign currency can be recorded in the transaction.

Best answer by Fiat Lux - ASIA

Utilize a clearing account

https://quickbooks.intuit.com/learn-support/en-ca/help-article/other-articles/set-clearing-account/L8njrx6WC_CA_en_CA?uid=l57nko8a

 

As an additional option, consider opening a Wise Business account to manage multi currency transactions easily and use the bank feeds to QBO.

https://wise.prf.hn/l/64dl92k

 

1 reply

Fiat Lux - ASIA
Fiat Lux - ASIAAnswer
July 5, 2022

Utilize a clearing account

https://quickbooks.intuit.com/learn-support/en-ca/help-article/other-articles/set-clearing-account/L8njrx6WC_CA_en_CA?uid=l57nko8a

 

As an additional option, consider opening a Wise Business account to manage multi currency transactions easily and use the bank feeds to QBO.

https://wise.prf.hn/l/64dl92k

 

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