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Beyourownbank21
February 11, 2025
Question

Importing Journal Entries with Custom Exchange Rates in QuickBooks

  • February 11, 2025
  • 2 replies
  • 0 views

How can we import a journal entry (with csv file) involving a foreign currency account and use our own exchange rate instead of QuickBooks' system-generated rate?

2 replies

C
Chrea
February 12, 2025

Like this one?

 

RefNumberTxnDatePrivateNoteIsAdjustmentCurrencyExchangeRateAccountLineAmountLineDescEntityClassLocation
10101/10/2020Wire TransferFALSE  Savings-50,00Credit Savings   
10101/10/2020Wire TransferFALSE  Checking50,00Debit Checking   
10201/10/2020Wire TransferFALSE  Savings200,00Debit Savings   
10201/10/2020Wire TransferFALSE  Checking-200,00Credit Checking   
A
Alex M
February 12, 2025

Hi there Beyourownbank21,

 

Thanks for reaching out about your journal entries. QuickBooks Online is a great tool able to assist you in keeping track of sales and expenses so you can see the profitability of your business. I can provide some information about this. 

 

When importing journal entries in QuickBooks Online using a CSV file, there is the option to specify a currency in a file and map it, but there isn't the option to specify an exchange rate. It would be imported with the default exchange rate for that time, and it would need to be adjusted manually after the import. I can see that this would be a feature that you'd like to see in the software. I recommend you leave feedback by clicking on the Gear Icon, then Feedback. The comments made in that section are considered by our developers for future features in the software.

 

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

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    Beyourownbank21Author
    February 13, 2025

    Thanks for your response and for clarifying how QuickBooks Online handles currency mapping in journal entries.

    Given that more businesses like ours are increasingly integrating Bitcoin and other digital assets, having the ability to specify an exchange rate during import would be highly beneficial. Would it be possible to get an estimated timeline for this feature? This would allow us to plan accordingly and advise our team on when to check for updates.

    Thanks!

    T
    Trish_T
    February 13, 2025

    Hi Beyourownbank21,

     

    Although we don't have an ETA for new features or product updates in QuickBooks, you can follow this link, to discover what's new.

     

    Reach out again, if you have other questions.  We would be glad to assist!

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