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Converting Quickbooks Desktop to Online with Foreign Currency

Forum|Forum|3 years ago
October 13, 2022
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Hello

Has anyone else tried to convert Desktop data (my version is Premier Accountant Edition 2020) to Quickbooks Online (Plus version) who has extensive foreign currency transactions? I have recently used movemybooks to convert our desktop file over but it seems to have no support for foreign currency transactions. All accounts (customer and supplier) have come across in base currency and cannot be changed in QBO, as well as all foreign currencies translated back to base currency so we would lose all foreign currency values.

Are there any other alternative migration tools to movemybooks which are more friendly to data with multiple currencies?

Thank you

Best answer by Rasa-LilaM

Thank you for dropping by the Community today, Robbie Telfer.

I recognize how essential it is for your business to import foreign currency data into QuickBooks Online (QBO) without first changing it to your home currency. This can save you time because you won't need to open a new foreign currency bank account and transfer the funds from the account that is equivalent to GBP to the newly opened account.

We treat all businesses fairly and recognize that each has unique requirements. That’s why I’m unable to recommend which migrator tool to use.

However, I can help run a search for you by going to the QuickBooks Apps Center. It's a one-stop shop for third-party programs that work well with QBO.

To easily find one, enter a keyword in the search field. This action will bring up a list of apps. For a better comparison, review the customers' reviews and feedback.

Check out the following reference to learn more about the conversion process and information that does not transfer to the QBO: Moving from QuickBooks Desktop to QuickBooks Online.
I've also included some resources to help you get started with the online program:

These links contain topics on the tasks you can do as well as online videos for visual reference.

Feel free to visit the Community again if you have other QuickBooks concerns or additional questions about migrating your desktop data to QBO. I'll be glad to lend a helping hand. Have a great rest of the day.

R

Rasa-LilaMAnswer