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September 24, 2023
Question

I can't manage to setup multicurrency

  • September 24, 2023
  • 1 reply
  • 0 views
Could someone help me with setup multicurrency please?

1 reply

September 24, 2023

I am delighted to be of help, Alena. 

 

Could you please confirm what QuickBooks product you're using? It is important to note that the multicurrency feature is available in the Essentials, Plus, and Advanced plans of QuickBooks Online. 

 

If you own any of the specified products mentioned, I can provide instructions on how to turn this on. 

 

Here's how you can set it up:

 

  1. Sign in to your QuickBooks Online account.
  2. Click on the Gear icon in the top right corner and select Account and Settings.
  3. Choose the Advanced tab.
  4. Scroll down to the Currency section and click the Edit button.
  5. Select your Home Currency from the drop-down menu.
  6. Turn on the Multicurrency switch and confirm that you understand that you can't undo this option.
  7. Click Save and then Done to complete the setup.

 

Once multicurrency is enabled, you can assign currencies to customers, vendors, and accounts. You can also enter transactions in different currencies, and QuickBooks will automatically convert them to your home currency based on the exchange rates you've set.

 

For a comprehensive understanding of multicurrency in QBO, refer to this article: Set up and use multicurrency in QuickBooks Online.

 

If you're currently using the Simpler Start version, I recommend considering an upgrade to unlock the full multicurrency functionality.

 

Feel free to come back if you have more questions about multicurrency in QuickBooks. I'm here to help!