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March 18, 2022
Question

Can I receive a foreign currency payment and deposit it to a foreign currency account?

  • March 18, 2022
  • 1 reply
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My Home currency is USD and I issued an invoice in EUR, I have received the payment and it get deposited in the real world to an AED account. in the system: I made a new "receive payment" and I selected my EUR invoice then I selected my AED account in witch the payment was landed. when I try to save the transaction it gives an error "Transactions can have only one foreign currency at a time." how can I process such transaction? Thank you very much.

1 reply

Fiat Lux - ASIA
March 18, 2022

Create a wash account as the workaround

https://quickbooks.intuit.com/learn-support/global/manage-customers-and-income/if-i-have-3-accounts-one-in-usd-euro-n-aed-i-transfer-in-my-bank/01/844531

 

Another option, open a Wise account to manage your multi currency transactions and utilize the bank feeds feature.

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