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June 12, 2020
Question

Creating a foreign currency stock item: "Transactions can have only one foreign currency at a time"

  • June 12, 2020
  • 1 reply
  • 0 views

I am new to QuickBooks Online, using QBO Plus.

 

I want to set up "Stock Items" in several currencies.  I am accustomed to doing so, when using QB Desktop ( a very old version!).

 

When I try to set up the item, I specify a Income Account (for sales of the item), a COGS Account, and a stock account.  When specifying the stock account, I am of course required to specify the currency.  I specify USD.  When I try to complete the process, I get the following error message:

 

"Transactions can have only one foreign currency at a time."

 

Note:  I am merely setting up the item.  I have not yet attempted to record a transaction.  In this context, the reference to a "transaction" makes no sense.   More generally, I am sure I am approaching the Stock Item set-up process much as I did when using Desktop QuickBooks. 

 

Any advice?

1 reply

Fiat Lux - ASIA
June 12, 2020

The multi currency feature is only applicable for Customer and Vendor. If you are a wholesaler, consider having an inventory management app with B2B portal for your partner/reseller. You may set the multi list price with multi currency option.