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BhuwanSharma
April 13, 2020
Question

Unable to match bank transaction with an invoice for foreign currency

  • April 13, 2020
  • 1 reply
  • 0 views

Hello,

 

I have multicurrency enabled on my QBO with CAD as the base currency. I raised an invoice to a US client in USD and they paid me in USD. I deposited the check to my USD account but when I open the bank transaction in QBO, I don't see the MATCH option. I am unable to match the bank transaction to the invoice.

 

I spoke to QBO support and looks like the MATCH functionality doesn't work for foreign currency, it only works for your base currency.

 

Has anybody else faced this similar situation. 

 

Any suggestion and advise on how to handle this is appreciated.

 

Thanks,

B

1 reply

LeithG
LeithG
November 9, 2021

Hi BhuwanSharma

 

I know this question is old, so I hope you've found an answer by now, but if not - or if others come across this question looking for similar information - I hope this helps.

 

When matching transactions in QBO, even in multi-currency, the match option may not be readily transparent.  I did this with a recent transaction that came through my bank account as a transfer from my USD bank account to my CDN bank account, via a foreign exchange firm.  The original transaction was posted in USD, with the CDN converted amount posted to my CDN bank account.

 

Prior to the transaction hitting my account, i had use the entry function in QBO to add the transaction from +New -> Bank Transfer entering the initial USD value, and the exchange rate.

 

When the transaction hit my account, I clicked on it in the feed, so an additional screen opened up, and selected the 'find match' option.  From the find match screen, I switched from Home Currency, to Foreign currency on the radio buttons and was able to locate the matching transaction.

 

Hope this helps!

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