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George751
September 27, 2022
Question

Multi currency costing issues

  • September 27, 2022
  • 1 reply
  • 0 views

I am using QB Enterprise desktop version, i am set for multiple currency, i am using EUR as my preferred currency, so my balance sheet is in EUR, but when i enter bills in USD the cost of the item in my BOM remains in USD where all the other items purchased in EUR, so in this case i have got a mix of currencies in the same BOM, which is wrong! how fix this? i need the item that i bought in USD to be shown in the BOM costing in EUR.

On the accounting side, everything is correct, as the supplier was paid in USD and it is showing the equivalent in EUR, but the item cost itself remains in USD in the BOM.

Is there a way to add a line with the exchange difference for instance on the Bill of Materials, so that i can fix this issue?

1 reply

J
JonpriL
September 27, 2022

Hello there, @George751.

 

I'm here to help share insights about the advanced inventory tracking in QuickBooks Desktop Enterprise so you can track the items correctly for the bill of materials.

 

With advanced inventory tracking, one assembly build is not yet able to cater with multiple currency items. This means inventory items used to build the assembly must have only one type of currency to get the correct bill of materials.

 

Saying you need such an item in USD to be included in the bill of materials with items in EUR, I recommend contacting your accountant for guidance in handling your inventory items. Use this link if you haven't found someone you can work with: QuickBooks Certified ProAdvisor.

 

I'm adding this article to skip manual tracking and focus on making your products with a personal touch: Track the Products you Manufacture in QuickBooks Enterprise Suite.

 

It'll always be my pleasure to help if you've got additional questions about building assemblies. Use the Reply option below and surely I @JonpriL, will be here ready to assist you. Take care and stay safe!

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