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A
akin-valor-akinc
October 15, 2022
Question

How can I change the home currency from HKD to USD.

  • October 15, 2022
  • 1 reply
  • 0 views
The home currency selected HKD and few entries are entered but now we want to change the home currency from HKD to USD. Please suggest how to do ?

1 reply

Fiat Lux - ASIA
Fiat Lux - ASIA
October 15, 2022

Are you using QBO HongKong version? You can only change your Home Currency by enabling the multicurrency feature if you have QBO Essentials or Plus. If you are using QBO Simple Start, consider to sign up for a new QBO account instead and cancel the old one. The discounted rate is not applicable when upgrading your plan. 

https://quickbooks.grsm.io/HongKong

 

C
ChristineJoieR
October 15, 2022

Hello there, @akin-valor-akinc.

 

Multicurrency allows us to send and receive payments in international currencies from customers, vendors, or bank accounts that do not use your home currency. Once it's available, we can enter transactions in other currency pairs, and QuickBooks will handle all exchange rates. Let me walk you through how to change currencies in QuickBooks Online.

 

The Multicurrency feature is available in QuickBooks Online Essentials, Plus, and Advanced. Now, let's proceed with how to turn this on. 

 

Here's how: 

 

1. Go to Gear, then select Account and settings.

2. Select Advanced.

3. In the Currency section, select Edit

4. From the Home Currency dropdown, choose your currency.

5. Select the Multicurrency checkbox and confirm that you understand that you can't undo this option.

6. Select Save and Done.

 

I've included this article for your guide if adjustments to your foreign balances are needed: Enter home currency adjustments. This also helps you compute your realized gain or loss in QuickBooks Online.

 

Furthermore, we may get some ideas from the commonly asked questions for your future currency adjustment: Frequently Asked Questions about Home Currency Adjustments.

 

Please know that you're always welcome to post if you have other concerns. Wishing you and your business continued success.

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