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V
Vel5
November 27, 2021
Question

How to disable multi-currency?

  • November 27, 2021
  • 2 replies
  • 0 views
dear all, how to disable multi-currency in QuickBooks online ?

2 replies

R
ReymondO
November 27, 2021

Thanks for reaching in the QuickBooks Community page, @Vel5.

 

The multicurrency feature gives you the ability to record transactions in foreign currencies. Once turned on, it can't be turned off. This is because the currency conversion information will have to be accounted for in the system moving forward.

 

To get more details, you can check out this article: Learn about Multicurrency in QuickBooks Online.

 

The Community always has your back, so please let me know if you have any other questions. I'll be more than happy to help. Keep safe.

Fiat Lux - ASIA
Fiat Lux - ASIA
November 27, 2021

@Vel5 

You may need to open a new blank QBO account and have 2 ways to migrate your data.

A
automationjackson
January 3, 2023

This still isnt an option? Do i need to create a new account and export/inport everything? 

R
Rea_M
January 4, 2023

Hello there, @automationjackson. Welcome to the Community.

 

I'll gladly share some insights about the Multicurrency feature and guide you on how you can manage your company data in QuickBooks Online (QBO).

 

Yes, once the Multicurrency feature is on, turning it off isn't still an option in QBO. You can reset your file so the feature will automatically be disabled. For the complete details about this info, please see this article: Set up and use multicurrency in QuickBooks Online.

 

When you need to create or start fresh with a new QBO company, you'll have to consider how long you've been using QuickBooks.

 

If your account is new (less than 60 days old), you can start over or reset your data. However, please note that this option is only applicable to QBO Plus or Essentials users. If you're using QBO Simple Start, you need to cancel your current account and start a new one.

 

Whenever you're ready to reset your company data, follow these steps:

 

  1. Sign in to your QuickBooks Online Company as the Primary admin.
  2. Change the URL to include /purgecompany
  3. Example: Change https://app.qbo.intuit.com/app/homepage to https://app.qbo.intuit.com/app/purgecompany
  4. The next screen will provide a summary of the items to delete. Type YES to delete the data, then select OK.

 

If your account has been active for more than 90 days, you'll have to cancel your subscription and start a new one. Before doing so, please make sure to export your data from QBO. Then, import everything to the new company file.

 

You can read this article to answer the most commonly asked questions about deleting your data in QBO: Delete your data and start over in QuickBooks Online.

 

Once everything is all set, you may also want to check out one of our Help pages as your reference to guide you in managing your business growth and transactions in QBO: QuickBooks Learn and Support. It includes topics about account management, import and export data, and banking, to name a few.

 

Please feel free to leave a comment below if you have other multicurrency concerns or questions about managing company files in QBO. I'm always ready to help. Take care, @automationjackson.

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