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The following sections review information about Home currency adjustments that can help you when using the Multi-currency feature in QuickBooks Online. Why do some of my Home currency adjustment journal entries have a 0.00 amount? When you create a Home currency adjustment, QuickBooks Online creates a journal entry with zero gain or loss for Accounts Receivable or Accounts Payable. The journal entries keep track of the date you revalued a currency, the currency you revalued, and the exchange rate. Reports use the exchange rate from such adjustments to calculate unrealised gains and losses. Home currency adjustment journal entries with non-zero dollar amounts indicate that you've run Home currency adjustments on bank or credit card accounts and have realised gains or losses. While you can edit the journal entry's number and Memo field, and add attachments for your records, you can't change the date, debit or credit amounts, or exchange rate for the journal entry to ensure th

To keep things less cluttered when you're looking at your reports, you can hide rows and columns with no activity or a total amount of zero. This ability is only available for some reports. To show only active rows and columns: At the top of the report, select the Show non-zero or active only drop-down. If you don't see Show non-zero or active only, it isn't an option for that report. Choose which rows or columns to show: Active: Hide empty rows and columns. All: Show all rows or columns. Non-zero: Hide rows and columns with a total of zero. Select Run report. That's it. Now you know how to show only active rows and columns in your reports.

If you have turned on the Multicurrency feature and have connected banks that use foreign currencies, you can add transactions in those currencies to QuickBooks Online. Note: Make sure Multicurrency is turned on to add an exchange rate. The Multicurrency feature and foreign currencies are available in QuickBooks Online Essentials and Plus. Add foreign-currency transactions To add transactions in a foreign currency: Open the transaction details and select Add. In the currency fields, enter the Foreign amount or the Exchange rate your bank provides. QuickBooks Online calculates the total, and the Bank Description or Detail fields display the transaction as your bank displayed it on your statement, usually with the amount and currency. Split transactions If you use foreign currency, you can still split deposit and expense transactions based on different account categories and tax, but you can't split a transaction based on different currencies. To split

Learn when and how to turn on Multicurrency in QuickBooks Online Essentials, Plus. All your transactions must be accounted for in your books. If you have transactions in different currencies, QuickBooks' Multicurrency feature helps you record them easily without worrying about exchange rate conversions. Note: If you use Simple Start, you can upgrade your QuickBooks Online subscription so you can start tracking your foreign currency transactions. When to turn on Multicurrency You can turn on Multicurrency if you have customers, suppliers, or bank accounts that don't use your home currency. Once it's on, you can add transactions in another currency and QuickBooks handles all currency conversions. Note: You can assign a single currency to most types of accounts, including customers, suppliers, bank and credit card accounts, accounts receivable, and accounts payable. You will have to add a new account for each different currency that you use in transactions. How to turn on Multicurrency St

Learn how to use bank rules to automatically categorise transactions from your bank. When you download transactions from your bank, you need to categorise them so they go into the right accounts. Bank rules speed up this review process. You can create rules that automatically categorise transactions for you. The more QuickBooks uses your bank rules, the better it gets at categorising. After a while, it can even scan transactions and add details like payees. Step 1: Create a bank rule Go to Bookkeeping and select Rules (Take me there). Select New rule. Enter a name in the What do you want to call this rule? field. From the Apply this to transactions that are ▼ dropdown, select Money in or Money out. From the In ▼ dropdown, select the bank account. Set the rule conditions. You can set a single rule with up to 5 conditions. Set and include the following, then select + Add a condition. In the Conditions fields, specify whether the rule applies to Description

If you've connected an accountant user to your QuickBooks Online company, you can use the My Accountant page to communicate and collaborate with your accountant directly from within QuickBooks. Your accountant can't view this page in your books — accountants work from a different page in their own firm's company — so if you have more than one accountant user, they won't be able to view each other's requests and documents, to keep your work safe and confidential. Requests from your accountant When your accountant sends you a request for a document or information, the request is displayed on your My Accountant page, from which you can view and respond to it.Your accountant sets a due date for the request and specifies what they need. You can't directly edit these requests, but you can respond to them with comments and documents. To respond: From the top right menu, select My Experts. Under My Accountant, select the link to go to the My Accountant page. On the Requests tab,

Learn how to fix Accounts Receivable (A/R) or Accounts Payable (A/P) balance on a cash basis balance sheet. An issue with the balance is typically caused by one of two things: an accounts payable or accounts receivable transaction has affected the balance sheet account, or there's an unapplied payment. Transactions affecting a balance sheet An accounts receivable or accounts payable balance on a cash basis balance sheet is often caused by Accounts Receivable (A/R) or Accounts Payable (A/P) transaction. As soon as the entry is saved, the accounts receivable or accounts payable account shows a positive balance until you receive payment or pay the bill. Common examples are: VAT: Normally reported under Tax Payable, a liability account. Note: The name of this account may vary as per the tax agency you've set up. Security Deposits: Often entered on invoices using a product/service item that is reported under a security deposit liability account. Retainers: Often entered usin

Learn how and where to find your company ID while you're in QuickBooks Online. Ever wonder how your company is identified? We use a number called the QuickBooks Online company ID. If you contact us, we may ask for it. There are two ways to get your company ID. Method 1: Use your keyboard With QuickBooks Online open, press the following keys on your keyboard. Windows: Ctrl + Alt + ? Mac: Control + Option + ? Method 2: Go to the Billing & Subscription page If you have admin rights to QuickBooks, you can get your ID from your preferences. Go to Settings ⚙ and select Account and settings. Select the Billing & Subscription tab. You'll see the company ID at the top of the Billing & Subscription section.

Learn how to use the Custom transaction numbers feature to set your own numbering preference. This feature is activated by default. If you do not want QuickBooks to automatically assign numbers to your sales forms, you can turn off this feature. Set your own numbering preference Use the Custom transaction numbers feature to set your own numbering preference. This adds an Invoice no. field where you can enter any number or letter format you want. Go to Settings ⚙ and select Account and settings. Select Sales, then select anywhere within the Sales form content section. Turn on Custom transaction numbers. Select Save, then select Done. Go to Sales and select All Sales (Take me there). Open an invoice or any sales form. In the Invoice no. field, enter the custom number or letter sequence you want to use for your forms. The sequence you set here applies to all sales forms. Select Save or Save and close. Note: Once you ha

Learn about the different options for user roles and access permissions. When you add a user in QuickBooks online, you can manage their roles and limit their access to specific tasks. You can also choose what users can see and do within different areas of QuickBooks, like customers and sales, or suppliers and purchases. Learn more about user roles QuickBooks user roles are customisable permissions you can give your team. User roles are either billable or non-billable. Billable users count toward your user limit, while non-billable users don’t. Roles that count toward user limits Learn more about each billable user role that counts toward your user limits. Primary Admin The primary admin is the main user who has access to every part of the QuickBooks account. They can manage all users and other admin tasks. By default, the primary admin is the person who initially set up the account. If you need to assign a new primary admin, you can transfer the role to another user. Comp

Learn how to find missing transactions downloaded from your online bank and credit card accounts. When you first connect your online bank and credit card accounts, QuickBooks Online downloads past transactions up to a certain date. QuickBooks then automatically downloads the latest transactions every night. If you can’t find transactions you recently downloaded, or don’t see new ones, don't worry. Here’s how to check different areas of your accounts to find missing transactions. Step 1: Get the latest transactions If you don’t see a transaction you expect to see, manually download the latest ones available. Go to Bookkeeping, select Transactions, then select Bank transactions (Take me there) Select Update. Feel free to keep working during the update. When it's finished, check the Banking menu again for the missing transaction. It's likely in the For review section. If the download seems stuck, here's what to do if bank transactions won’t download. Step 2: Check around

Learn how to void or refund payments you process through QuickBooks Online. Sometimes you may need to void or refund payments. Here's how to void or refund a payment transaction in QuickBooks Online so everything is processed and your accounting stays accurate. We'll also show you how to give partial refunds. When you can void or refund a transaction Payment transactions batch at 3:00 PM PT every business day. If the payment transaction hasn’t batched, you can void the transaction.  If you are able to void the transaction prior to the payment processing, you will avoid a fee. If the payment transaction has already batched, you will need to give your customer a refund. You can refund the whole amount or refund specific products, services or fees. Also, keep in mind there are fees for refunding payment transactions. Note: If you are signed up for Instant Funding and apply it to a transaction, the payment is automatically considered batched. Void a sales receipt paid by cre

Learn how to fix an issue with your device’s sound when you capture receipts in the QuickBooks Online or QuickBooks Self-Employed mobile app for Android. Do you hear a beeping sound when you capture receipts in the QuickBooks Online or QuickBooks Self-Employed mobile app? This is the auto focus sound that’s built in to the camera on your Android device. Here’s how to turn it off if you want to. Turn off the auto focus sound for your camera On your Android device, open the camera app as if you’re going to take a photo. Select the gear icon in the app to go to the camera settings. Look for an option like Camera Sounds or Shutter sound. Turn the sound option off. Now when you capture receipts, your device’s camera will be silent. Note: If you can’t find an option to turn off the sounds for your camera, you can always put your phone in silent or vibrate mode while you capture receipts.

Learn how the dashboard works in the QuickBooks Online app. You can use the dashboard to see at-a-glance the health of your business as well as if you need to take action on an account or invoice. In this article, we'll take you through its key features. The dashboard cards provide shortcuts to the information you need to scan swiftly. Last month's Profit and Loss. Know what you're making and spending (if you connected your bank accounts).The Net profit total is based on money deposited and added for the last month, minus the last 30 days of expenses. Review and accept bank transactions. Last 30 days, 3 months, this year or the previous year of expenses by category. How many invoices are open, and which ones are overdue. Your latest account balances. Add new customers.

Learn how to view your balance sheet using the QuickBooks Online app. Do you want to check out your balance sheet quickly? You can easily view it using the QuickBooks Online app. In this article, we'll show you how. In the app, the balance sheet is only As of Today. To see a different date range, sign in to QuickBooks Online from the web. To see today's balance sheet in the app, follow these steps: iPhone From the Menu ☰, select Balance Sheet. Scroll to see your assets and liabilities. iPad From the Menu ☰, select Reports. Profit & Loss opens by default. To switch to Balance Sheet, select the title of the report, then select Balance Sheet.

The "Transaction already exists - save anyway?" error occurs when another transaction of the same type has been saved using the same number. To locate the other transaction Make a note of the transaction number (invoice number, cheque number, etc.) for the transaction you're trying to save. Select the Magnifying glass in the Toolbar. Select Advanced Search. Select All transactions, Reference no, Contains and enter the number of the transactions that you are trying to save. Select Search. This will show which transaction is causing the error to appear. You can choose to renumber and resave the old transaction, give the new transaction a different number before saving it, or save the new transaction with the same number.

This provides a brief description of the effects on the accounts and balances on your company file when turning on the Multicurrency feature. Multicurrency is available in the following QuickBooks Online versions: QuickBooks Essentials QuickBooks Plus If you need this feature but your version doesn't support it and you're considering an upgrade, proceed to How do I upgrade my QuickBooks Online subscription or available pricing plans. Multicurrency and accounts You can assign a currency to most types of accounts, including customers, suppliers, bank and credit card accounts, accounts receivable, and accounts payable. Income and expense accounts always use your Home currency. Your Home currency is the currency of the country where your business is physically located. You can only assign one currency to each account or contact name, and you have to add a new account for each different currency that you will use in transactions. Multicurrency fields Once Multicurrency is activated

Learn what to do if you see error messages or don't see recently downloaded bank transactions. When you connect your online bank and credit card accounts, QuickBooks automatically downloads new transactions. If you’re not getting the latest transactions, or updates seem stuck, don't worry. Here's what to review so QuickBooks starts downloading transactions again. If you see a bank error message, jump to Step 4: Fix specific bank errors. Note: You will not be able to download bank transactions past 90 days. If you would like transactions older than 90 days, you will need to manually upload transactions into QuickBooks Online. Step 1: Start a manual download For most banks, QuickBooks downloads the latest available transactions every night around 10 PM PT. Some may take a little longer. If downloads seem stuck, or you want the latest available transactions, do a manual download: Go to Bookkeeping, select Transactions, then select Banking. Select Update. This updates all your conn

Change language setting is only available in QuickBooks Online International versions. Follow the steps below to change language settings in QuickBooks Online. Select the Gear icon and then select Accounts and settings. Select Advanced and then go to the Language section. Select the pencil icon to edit, and then choose the desired language from the drop-down. Select Save, and then Done when you're ready. Our supported languages are English, Chinese, French, Italian, Spanish, Arabic, Thai, Portuguese, German, Japanese, and Korean. Alternatively, you can change the language in QuickBooks Online using the language settings of the browser. Change language settings in Google Chrome At the upper-right of the opened browser, select the vertical ellipsis ⋮.  Select Settings. Select Languages.   From the Language drop-down, select Add languages.  Select the language you want to use. Then, select

Learn how to add an accepted purchase order to a transaction for your supplier. After a supplier accepts a purchase order and sends the products, record it as a bill or expense in QuickBooks. You can easily add the purchase order as a line item. This closes the original purchase order, connects it to the bill or expense, and records the accounting accurately. Add a purchase order to an expense, bill, or cheque Follow these steps after your supplier accepts the purchase order: Select + New. Select Expense, Cheque, or Bill. Learn when to use expenses or bills. From the Payee ▼ dropdown, select the supplier. This opens a window with their open purchase orders. Select Add for the correct purchase order. This adds the items from the purchase order. They appear in the Item details section. If you plan to bill a customer for a specific item, select the Billable checkbox. Then add the customer you plan to bill in the Customer column. Select Save and close.

Learn how to adjust your VAT due if you use Automated VAT in QuickBooks Online. With automated VAT, it’s easy to keep your VAT records accurate. If you received a tax credit, discount, or fine, you can adjust the VAT you owe. This way you don’t have to worry about making corrections when it’s time to file. Here’s how to add or delete a VAT adjustment in QuickBooks Online. Add a VAT adjustment Step 1: Set up an account for VAT adjustment It’s important to use the correct account type when adjusting VAT. Set up an expense account if you need to increase your VAT due, or an income account if you need to decrease. Note: If you already have these accounts, move on to creating the adjustment in Step 2. Select the Gear icon at the top and select Chart of accounts (Take me there). Select New at the top right. From the Account Type dropdown, select Income or Expenses. If you need to decrease your VAT due, set up an income account. If you need to increase your VAT due, set u

Learn how to add transactions directly to an account. In Quickbooks, there are multiple ways to enter and track transactions. You can create a sales form, like an invoice or sales receipt, to capture the entire business cycle. We recommend this method in most cases since it gives you the most flexibility and features. You can also add transactions manually while you're working in your account. This saves time if you're reviewing your chart of accounts and need to make a quick addition. Here's how to manually add transactions to an account. Step 1: Open an account Go to Bookkeeping and select Chart of accounts (Take me there). Find the account you want to review. If you're new to QuickBooks, select See your Chart of Accounts first. Select Account history from the Actions column. Note: Not every account lets you add transactions directly. Step 2: Add a transaction to the account At the very top of the list, select the Add journal entry, Add deposit or Add cheque ▼ dropdo

Learn how to delete your data in QuickBooks Online and start over with new books. Sometimes you need to start fresh with a new QuickBooks Online company. If you're a new customer, you can simply start over. If you've used QuickBooks for longer than 90 days, you'll need to create a new file or contact support. Warning: This process will delete all data in the company file. Once you delete, you can’t restore it. Tip: Check out our frequently asked questions section below for more information to help you decide if purge and reset is the best decision for your QuickBooks Online file. Reset your account within 90 days of signup This is for QuickBooks Online Plus or Essentials users only. If you use QuickBooks Online Simple Start, you need to cancel your current account and start a new one. Sign in to your QuickBooks Online Company. Change the URL to include /purgecompanyExample: Change https://app.qbo.intuit.com/app/homepage to https://app.qbo.intuit.com/app/purgecompan

Find out how to record billable expenses in QuickBooks Online Plus. A billable expense is an expense you incur on your customer’s behalf when you perform a work for them. You can easily record and track billable expenses so your customer can reimburse them when they receive their invoice. Step 1: Turn on billable expense To record billable expenses, turn on billable expense tracking. Go to Settings ⚙, then select Account and settings. Go to the Expenses tab. From the Bills and expenses section, select Edit ✎. Turn on the following: Show Items table on expense and purchase forms Track expenses and items by customer. Make expenses and items billable. (Optional) Set up the following: Markup rate Billable expense tracking Sales tax charge Bill payment terms. Select Save. Step 2: Enter a billable expense Here’s how to bill a customer for an expense. Select + New. Select the transaction (Bill, Expense, or Check) you want to create. Select the

You can easily edit, delete, or restore recently deleted list elements such as accounts, terms, classes, products, or services. Edit a list element You can easily edit a list element: Select Settings ⚙️ Under Lists, select All Lists. Open the appropriate list, for example, Chart of Accounts, Products and Services, etc. From the Action ▼ dropdown menu, select Edit. Note: You may need to select the dropdown to make edits. Make changes, then select Save and close. Edit a supplier or customer To edit a supplier or customer: Go to Get paid & pay and select Suppliers (Take me there) or Customers (Take me there). Select the supplier/customer's name to open the details window. Select Edit. Make changes, then select Save. Delete a list element To delete a list element, you'll want to follow these steps: Warning:  Keep in mind that once you have deleted Recurring Transactions, Custom Form Styles, Currencies,