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May 5, 2024
Question

Different downloaded FX rate than the bank

  • May 5, 2024
  • 1 reply
  • 0 views
Lately the downloaded transactions from bank visa to QBO has a different FX rate so throwing off my daily reconciliations between  bank and QBO.  This has just been happening for a couple of weeks.  What is the fix?

1 reply

May 6, 2024

Hey there, flmtfinance-gmai.

 

Thanks for reaching out to the Community for support. I'd be happy to provide some information.

 

Making sure you're transactions are being entered correctly in QuickBooks is an important part in maintaining clean books. I recommend recalculating the home currency value using current exchange rates. Let me show you how:

 

1. Head to the "Gear" icon, then "Currencies"
2. Under the "Actions" column, select the dropdown menu, for the currency you want to adjust, then "Revalue Currency"
3. Enter the "Revalue date"
4. Decide whether you'd like it to be based on the Market rate or a Custom rate
5. Hit "Revalue and save"
Note; Only one exchange rate can be saved per day per account.

 

If you have any other questions, feel free to reach back out.