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April 13, 2022
Question

How can I make a home currency payment using a foreign currency credit card?

  • April 13, 2022
  • 1 reply
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1 reply

katherinejoyceO
April 13, 2022

Hello joe-trust-teleco, 

 

Thanks for joining the Community today. It's my pleasure to help you process payments using a foreign currency. 

 

First off, we'll need to enable the Multicurrency feature. This feature is only available in QBO Essentials and Plus.

 

Here's how: 

 

  1. Go to the Settings menu, then select Account and settings.
  2. Select Advanced.
  3. Select Edit in the Currency section, then choose your Home Currency.
  4. Select the Multicurrency checkbox and confirm that you understand that you can't undo this option.
  5. Select Save and close.

 

Then, you can now manually enter your own exchange rates for foreign currency transactions.

 

Here's how to add transactions in a foreign currency:

 

  1. Open the transaction details and select Add.
  2. In the currency fields, enter the Foreign amount or the Exchange rate your bank provides.
  3. QuickBooks Online calculates the total.

 

Once done, the Bank Description or Detail fields display the transaction as your bank displayed it on your statement, usually with the amount and currency.

 

Just in case your version doesn't support it and you're considering an upgrade, take a look at this article: How do I upgrade my QuickBooks Online subscription

 

Visit us again for your other concerns. I'll be around to guide you again.