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AD2021
June 4, 2021
Question

Migrate transactions from old to new currency

  • June 4, 2021
  • 1 reply
  • 0 views

Hi,

My client almost completed posting the transactions on QB online (2019 to present).  They have 2 separate accounts.  They recorded the transactions separately in that separate account.

Then pass it to me for completion.  I found out that the 2 accounts have different currencies (GBP and EURO).  Unfortunately, they did not set up the Multi currency features.  So, all transactions are created under home account (GBP)..

Now, I will create 1 new account with a different (EURO) currency.  Would it be possible to migrate the transaction posted from old currency to new currency? or are there any possible workaround to transfer the transactions?.

 

Thanks in advance,

1 reply

M
Mark_R
June 4, 2021

I've got your back, @AD2021.

 

At this time, the option to migrate transactions from one currency to another isn't available. You'll want to consider adding each transaction to the new currency.

 

I know that adding each transaction manually will take time. However, this is how QuickBooks manage transactions with a different currency.

 

You might want to check out this article to learn more about the multicurrency feature in QuickBooks Online: Turn on and use multicurrency.

 

Please let me know if you need clarification about multicurrency, or there's anything else I can do for you. I'll be standing by for your response.

A
AD2021Author
June 4, 2021

Thank you Mark, 

 

Means, I have to do the rework.. ok, once I set up the new currency and record its transactions..how can I remove the old one? so it will not show up in the financial reports?

 

 

Fiat Lux - ASIA
Fiat Lux - ASIA
June 4, 2021

@AD2021 

Utilize a migration tool. Export your transactions out to XLS and import them in bulk into the new account. Don't forget to delete the old transactions.

https://transactionpro.grsm.io/qbo

 

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