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October 24, 2019
Question

I have a US receipt in US dollars entered in. How do I turn that receipt number from US dollars to Canadian dollars in the bookkeeping

  • October 24, 2019
  • 1 reply
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1 reply

AddieC
October 24, 2019

Hi there. 

 

I want to make sure I'm giving you the best advice possible to resolve this. 

 

Working with multiple currencies means that you can record transactions in US funds (or other currencies). If you're using QuickBooks Online Essentials or Plus, you can turn on the multicurrency feature by clicking the Gear icon > Account and Settings > Advanced > toggle Mutlicurrency to On


Note: Once you turn multicurrency on, this setting cannot be turned off. 

 

You can then set up USD customers and suppliers. Simply select that this customer or supplier pays in USD. When you record your transaction, QuickBooks Online will do the currency conversion for you, based on the rates for the day of the original transaction. 

 

Here's more information about multicurrency and QuickBooks Online:

I hope this helps to answer your question. If I can help you in any other way, please let me know. 

 

Have a great day.