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How do I bulk-add foreign currency transactions?

Forum|Forum|6 years ago
November 12, 2019
8 replies
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When I'm in a dollar account, the option to select and bulk add transactions is not there. I can't even add individual transactions unless I first click on the transaction. Otherwise it says 'enter the exchange rate'. But I don't enter the rate - Quickbooks fetches the rate itself.

I have thousands of transactions in US dollars so it's very obviously not practical for me to go into every one, click and then add. I thought I had found a way around this by creating a rule to auto-add these transactions, but to my horror I find that the exchange rate is now pulled in as 1 GBP to 1 USD for these 'rule' added transactions.

Please tell me there's a way to bulk import these dollar transactions while keeping the exchange rate calculation, and please tell me how to do it.

Thanks!

QuickBooks Online

Best answer by Ashleigh1

Hello Cryptanite, thanks for posting on this thread, we do see that there are users who would find the bulk add foreign currency transaction option very handy and time saving. We have passed on the feedback from all users in this thread to the product enhancement team. At present there are no plans to add that feature in Quickbooks.

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Charies_M

Thanks for coming in with us today, delicado.

Transactions with the same currency as your home currency will automatically go through the bank.

However, the system will prompt an error if you're adding transactions that are different from your home currency. This is the reason why the Accept selected option or bulk add transaction is not there.

You'll need to manually expand each transaction to confirm the exchange rate to populate, then add them.

Learn more about the multi-currency feature in QuickBooks Online through this link: Turn on and use multicurrency.

If you have more questions, just let me know. I'm always happy to help.

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delicadoAuthor

Hi.

- However, the system will prompt an error if you're adding transactions that are different from your home currency. This is the reason why the Accept selected option or bulk add transaction is not there.

My question is why will the system prompt an error? If I can click them individually and add them successfully with the exchange rate, why would there be an error if I do it in bulk?

Could you please log a feature request 'allow bulk import of transactions'. I appreciate it might take a developer a day or two to make it work, but it would save me a day or two every few months, and I'm one of (I assume) millions of customers that you have.

I'm consistently astounded at how QB online fails with *every single* thing that I need it to do.

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plung

consider 3rd party data importing tool

https://transactionpro.grsm.io/qbo

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delicadoAuthor

Thanks for this Plung. $149 for a year isn't terrible if it works. Isn't it pathetic that this artificial market is created by the core software fundamentally not doing lots of basic things!

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payment after leaving

Hi delicado

We will certainly raise a product enhancement request for you and we encourage you to leave feedback from within the product.

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slavka012

i agree this silly. I came here looking for an answer trying to import a year worth of USD CC transactions. Luckily I don't have that many. Still that is annoying. Previously I never really cared of the exchange rate on USD transactions as they are billed and settled in the same currency.

JasroV

This is not what we want you to feel, @slavka012

As of now, we don't have a specific time frame as to when this update will roll out. Rest assured our engineering team is aware of this feature request. They are always working to improve our products to suit the needs of our customers.

In the meantime, you'll want to consider looking for a third-party app that lets you import foreign currency transactions. You can do so by going to the Apps menu in your QuickBooks Online (QBO) account. Then search for an app from there.

Also, I encourage checking our QuickBooks Blog page to learn about the latest news and updates in QuickBooks.

In case you have other concerns or questions with your QBO account, you can always get back to me. I'm more than happy to help you. Take care and keep safe!

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georgethuk

I find it completely bonkers this isn't a feature - please change!! I'm wasting so much time...

JasroV

This isn’t what I want you to feel, @georgethuk.

I see the importance of having this feature in QuickBooks Online (QBO) as this can save you a lot of time in your business.

Don’t worry though, our product team is always looking for great ideas from users, like yourself, when deciding how to enhance QuickBooks. While I can’t provide you with a specific time frame as to when this feature will roll out, I suggest checking our QuickBooks Blog page for reference. Here, you'll stay updated on the latest news and updates about QuickBooks.

In the meantime, I recommend looking for a third-party app that lets you process foreign currency transactions by batch. You can go to the Apps menu in your QBO account and look for an app from there.

In addition to this, you might want to check out these links below that you can use for reference in matching your transactions in the future:

Let me know if there’s anything else I can help you in managing your transactions in QuickBooks. I’m always around ready to help you anytime. Have a good one!

Any update? thanks.

Hello here - I get the same problem even when looking to transfer from/to 2 accounts using THE SAME foreign currency. I.e. Most of our accounts are CAD, but the two accounts in the bulk rule are USD. Still, I have to manually assign a conversion rate for each transaction. WHAT GIVES?

Am I missing something here?

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Charies_M

I appreciate you coming here for help, mlatzel.

Bulk adding foreign currency feature added in QuickBooks Online (QBO) is still unavailable. Your thoughts about this feature are being noted and while we're changing and evolving based largely on the suggestions of users like yourself, I want you to get in the loop about the latest news and product developments in QuickBooks. That said, I encourage you to visit our Firm of the future site.

For more information about managing Multicurrency, check this article: How to turn on Multicurrency and add or delete currencies.

To give you more insights with multi-currency in QuickBooks, please refer to these links:

I'm always here to help if you have any other questions while working with currencies. Stay safe and have a great rest of the day!

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cryptanite

Over two-yeara later and still an issue! come on!

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ZachYamaoka

3 years later and no resolution. May need to consider using a different software now....

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cryptanite

Any updates??? or workaround?

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Ashleigh1Answer

Hello Cryptanite, thanks for posting on this thread, we do see that there are users who would find the bulk add foreign currency transaction option very handy and time saving. We have passed on the feedback from all users in this thread to the product enhancement team. At present there are no plans to add that feature in Quickbooks.