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Question regrading entering item description .

Forum|Forum|6 years ago
August 29, 2019
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Hello Team,

My default currency is CAD, and I bought inventory in USD, and I will pay in USD to suppliers.

I sell the items to customers in CAD.

QUESTION 1

When I enter items' cost in item list, Do I enter US dollars , or Convert to CAD?

2

When I enter item's sales price in item list, DO I enter US dollars, or concert to CAD?

3

I am confusing with Enter Bill or Purchase Order? Which one should I put those inventory in?

4

When I enter Bill (purchase order) from Home page, I need to enter in CAD?

QuickBooks Desktop

Best answer by JamesM

Hi there,

It's good hearing from you again. I hope all is well. Were you able to call in about the duplicate credit memos? Don't worry, I'll help answer your questions.

To answer question 1 and 2, you won't have to convert the currencies since your home currency is CAD. When you enter transactions in the items list, they'll always revert back to the home currency. The Enter Bills option allows you to record transactions that you'll pay at a future date, including expenses incurred, materials purchased, or services provided by a supplier. I encourage to to check out more about this option using this link: Enter bills.

Purchase orders are used to inform suppliers what you'd like to order. For more info on how Purchase Orders work in QuickBooks, check out this article: Create a purchase order. When you enter a bill from the homepage, the currency will revert back to the initial suppliers currency. Let me know if this helps answer your questions. I'll be on standby.

J

JamesMAnswer

Hi there,

It's good hearing from you again. I hope all is well. Were you able to call in about the duplicate credit memos? Don't worry, I'll help answer your questions.

To answer question 1 and 2, you won't have to convert the currencies since your home currency is CAD. When you enter transactions in the items list, they'll always revert back to the home currency. The Enter Bills option allows you to record transactions that you'll pay at a future date, including expenses incurred, materials purchased, or services provided by a supplier. I encourage to to check out more about this option using this link: Enter bills.

Purchase orders are used to inform suppliers what you'd like to order. For more info on how Purchase Orders work in QuickBooks, check out this article: Create a purchase order. When you enter a bill from the homepage, the currency will revert back to the initial suppliers currency. Let me know if this helps answer your questions. I'll be on standby.