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sarmurray
February 20, 2021
Question

Hello. I use the multi currency feature. I am adding payroll and I pay my employee in MXN however it seems there is only the option to add payroll expenses in CAD.

  • February 20, 2021
  • 3 replies
  • 0 views
Is there a way to change this to MXN?

    3 replies

    Lourdes-Fernandez
    Lourdes-Fernandez
    February 21, 2021
    Hello sarmurray,

    Welcome to the community, I'd be more than happy to share my collected information in regards to multicurrency and its capabilities with QuickBooks Online.

    Multicurrency in QuickBooks Online
    https://www.intuit.com/content/dam/intuit/intuitcom/partners/documents/icom-education-program-ca-qbo-appendix-b-multicurrency-in-quickbooks-online.pdf

    I hope you find the information useful! Have an awesome rest of the day.

    Kindest Regards,
    Lourdes Fernandez
      S
      sarmurrayAuthor
      February 22, 2021

      Thank you. This was a very helpful guide and clarified for me that at this time what I’m wanting to do isn’t an option. 

      Rebecca R
      Rebecca R
      February 22, 2021

      I'm glad that @Lourdes-Fernandez and I were able to clarify things for you, @sarmurray. Don't hesitate to reach out again here in the Community if you need help with antoher QuickBooks-related question or query. Have a great week!

      Fiat Lux - ASIA
      Fiat Lux - ASIA
      February 22, 2021

      @sarmurray 

      Explore this app to send your payroll in CAD and your employee will receive it in MXN. Then you may record the payroll transaction in journal entry.

      https://transferwise.prf.hn/l/75dqNgB

       

       

        S
        sarmurrayAuthor
        February 22, 2021

        Thanks so much for your response. TransferWise is great. I do use it. But for this purpose I am paying an employee with funds that are already in another currency. 

        Rebecca R
        Rebecca R
        February 22, 2021

        Hi there sarmurray,

         

        As you'll glean from the handy guide that @Lourdes-Fernandez has shared, the Multicurrency feature in QuickBooks Online doesn't allow you to manage Payroll in foreign currencies. As @Fiat Lux - ASIA has shared, there is at least one app, and maybe many others that'll make paying employees in foreign currencies a little easier.

         

        Submitting Feedback through the Gear icon is a great way to let our product development team know that expanding

        our Multicurrency feature to work with the Payroll module would be helpful. New Features get added regularly and yours may just be up next if enough other users have requested work on the same feature.

         

        Check out the articles below to learn more about how Multicurrency works and how you can use it:

         

         

        Let me know if there's more you need a hand with. I'm happy to help! Take care.

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