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Ivona 11
April 21, 2021
Question

Currency

  • April 21, 2021
  • 1 reply
  • 0 views

Hello, 

 

I have a question on using multiple currencies. 

 

If i will update every day currency exchange rate by my rate, and for example i will upload bank statement of not based currency entries for previous week, system will take my uploaded rates? Or the rate will be taken which is suggested by QB? 

 

Thank you 

 

1 reply

AlexV
AlexV
April 21, 2021

Hi Ivona!

 

Let me share something on how multi-currency works in QuickBooks Online. 

 

QuickBooks Online will follow the current given rate. So if you downloaded last week's transactions, the exchange rate will be based on today's rate.

 

We can run home currency adjustments for the previous transactions. With this option, we can recalculate the home currency value of your foreign balances. This will affect your balance sheet accounts for accurate financial reports. For the detailed steps, check this link: Enter home currency adjustments for your foreign balances.

 

Here are some of the articles you can check. These will answer the common questions about this feature:

 

Need more help? I'll be here to assist you. Thanks!

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