Can I automatically make conversion for invoices?

It's indeed convenient to classify your payments from multiple currencies automatically, itai. I can share some information regarding this.

The automatic classification of payments from different currencies is currently unavailable in QuickBooks Online (QBO). However, you can create an account specific to your currency in your Chart of Accounts (COA) to facilitate the movement between foreign currencies.

Before transferring, let's first record the invoice payment and deposit it in the account created specifically for the USD currency. Afterward, you can transfer the amount to the designated account for another specific currency.  

Here's how:

Step 1: Create a dummy bank account for the USD, EUR, and GBP currency

1. Go to the Gear icon and press Chart of Accounts.
2. Click New.
3. From the Account Type dropdown, you can choose Bank.
4. Click the Detail Type dropdown, then select Cash on hand or according to your preference.
5. In the Name field, you can enter a Dummy account for USD.
6. From the Current dropdown, select USD.
7. Click Save and Close.
8. Repeat the process for EUR and GBP currency.

Step 2: Record invoice payment and deposit it to the dummy bank account

1. Go to the +New, then click Receive payment.
2. From the Customer dropdown, choose a customer.
3. Click the Deposit To dropdown and select the created USD dummy account.
4. Find the transaction and tick it.
5. Press Save and Close.

Step 3: Transfer your transaction

1. Click +New, then choose Transfer.
2. From the Transfer Funds From dropdown, select created USD dummy account.
3. Click the Transfer Funds To dropdown, press created dummy EUR or GBP account.
4. From the Currency dropdown, select your home currency. It will display the conversion between the foreign and home currency.
5. Enter the amount in the Transfer Amount field.
6. Click Save and Close.

To learn more about adding an account that uses a foreign currency and receiving and making payments for other currency, you can see these articles:

• Multicurrency FAQ
• Set up and use Multicurrency in QuickBooks Online
• Receiving and making payment for a foreign invoice/ bill with a foreign currency

You can also assign a foreign currency to a customer in QuickBooks Online if you have a customer that has a different currency.

Feel free to let me know if you have additional questions about multicurrency. I'll be around to assist you.