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August 9, 2023
Question

Hello, the exchange rate in usd is blank and so we cannot save transactions. how can this be rectified?

  • August 9, 2023
  • 1 reply
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1 reply

August 9, 2023

Hello, precious. 

 

When dealing with foreign currency transactions on QuickBooks, it is important to note that exchange rates are used to determine the values of your home currency. However, if you prefer to use your own rate for multiple transactions, you have the option to update the rate in your currencies list. This way, you can customize your transactions to suit your individual needs and preferences.

 

Here's how: 

 

  1. Go to the Gear icon, then choose Account and Settings.
  2. Select Advanced.
  3. In the Currency section, select Edit.
  4. From the Home Currency ▼ dropdown, Find the exchange rate you want to update.
  5. Click Save.

 

 

 

After you save the changes, the currencies list will display the updated exchange rate, along with the date and time of the update and the person who made the change. For additional information, please check out this article: Enter an exchange rate. This resource also explains in-depth how the system computes the exchange rate. 

 

To better understand how multicurrency and exchange rates work in QuickBooks, check out these helpful resources: Enter an exchange rate and the in-depth explanations provided in this article regarding how the system computes the exchange rate. Once you save any changes, the currencies list will display the updated exchange rate, along with the date and time of the update and the person who made the change.

 

 

Feel free to comment below if you have any other concerns or questions. I'll be right here to keep helping. Have a great day!