My country will carry out a currency conversion in October. They will remove 6 digits from the coin. How do I update the accounting records in QB?

I’m determined to provide you some information that could help you achieve this, @mromero.

Updating foreign currency exchange rates in batches is a time saver. I appreciate you for reaching out to us for help.

As of the moment, we can only change the rate under Currencies and to a transaction manually. QuickBooks Online lets you use recent exchange rates. However, you’re unable to change it unless the rate is to be used for an entire day. This is to ensure the calculation of the system remains accurate and updated.

Here are the two ways to enter an exchange rate. Let me show you how:

1. Go to the Gear icon and select Currencies.

2. Locate the currency to change.

3. Select the Edit currency exchange rate in the Action column.

4. In the Edit currency exchange rate dialog, select your rate.

5. Enter the new rate in the field provided.

6. Click Save.

When adding currency to transactions, there’s no exchange rate available immediately. You’ll have to enter it by hand to complete them. Here’s how:

1. Create the invoice or bill.

2. Under the Customer or Supplier name field, select the Currency field.

3. Enter the exchange rate to use for the new currency.

4. Select Use for this transaction only or Use for all new transactions in (currency) for (date).

5. Complete the transaction and click Save.

I’ve added a pdf and article here for extra information about multicurrency and how the rates are calculated.

Please let me know if there’s anything else I can help you with aside from changing exchange rates. I’ll be here to assist further. Take care.

@mromero 

If you are using Bolivar as the home currency, you should open a new blank QBO account and migrate data from your old one.

https://quickbooks.grsm.io/South-America

Otherwise, utilize the trial version of a backup restore app prior to doing anything with your existing account.

https://rewindio.grsm.io/quickbooks