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dan01hart@gmail.
October 26, 2020
Question

I am based in the UK but work all over europe as well. How can i enter the receipts when they are in a different currency? The figures dont match up?

  • October 26, 2020
  • 1 reply
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1 reply

Angelyn_T
Angelyn_T
October 26, 2020

I can guide you on how to enter multicurrency transactions in QuickBooks Online (QBO), @dan01hart@gmail..

 

If it's your first time to record more than one currency transactions, then you have to turn on the multicurrency feature in QBO.

 

Here's how:

 

  1. Go to the Gear icon, then select Accounts and settings.
  2. Tap Advanced, then click Currency.
  3. Check the box labelled Multicurrency to enable the feature.
  4. Click Save, then Done.

After that, you need to set up a customer for multicurrency. Whenever you create invoices or sales receipts, it will automatically detect its currency.

 

  1. Go to the Customers tab.
  2. Click New customer, then fill in the details on the Customer Information window.
  3. On the Payment and billing tab, tap on the drop-down under This customer pays me with, and select the correct customer currency, then Save.

Once done, you're now ready to add your transactions to QuickBooks. You can use this article as your detailed guide: Add transactions in a foreign currency.

 

If you wish to assign a currency to your bank or credit card accounts, you can as well open this link: How to add a foreign currency account.

 

Keep in touch with me if you still need more help with this. I'll be here. Wishing you a good one!

S
Shoei600
February 3, 2022

I have the same problem. I do not want to enable multi currency as it removes the cashflow tools among other things and I'm paid in sterling.

 

I would like to match a receipt to a banking transaction (which is also in sterling) without the automatic scanning.

 

Adding scanned images of receipts also scans the details, what's the best workflow for this please?

 

Thanks.

C
CharleneMaeF
February 4, 2022

Nice to have you join this thread, Shoei600. I recognize how important it is to match your transactions. I'm here to share some insights about that.

 

When matching bank transactions, they should have the same currency. Therefore, it's best to turn on the Multicurrency feature to avoid issues. 

 

To turn the feature, I'd suggest following these steps:

 

  1. Select Settings ⚙️.
  2. Go to Account and Settings, then click Advanced.
  3. Select Edit ✎ to modify your currency settings.
  4. Choose the Multicurrency checkbox.
  5. Click Save then Done.

 

For more details about this feature, please see these articles:

 

 

After that, you can now manually enter your receipts in QuickBooks. Then, match them with your bank transactions.

 

Additionally, I've included an article that'll help you match your account and your bank and credit card statements: Reconcile an Account in QuickBooks Online.

 

I'm only a few clicks away if you need assistance with your other QuickBooks tasks, Shoei600. It's always my pleasure to help you out again.

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