Invoice in Euro, payment in USD

Thanks for visiting the Intuit Community, Mila2.

QuickBooks Multicurrency lets businesses manage their income and expenses in multiple notes. To smoothly track your USD and Euro transactions, you’ll have to set up an account and customer profile for each foreign currency.

Before proceeding, let’s go to the Preferences page to activate the feature. You can perform this process with just a few clicks.

1. In your company file, go to the Edit menu to choose Preferences.
2. This will take you to the list of menus.
3. Next, select Multiple Currencies and go to the Company Preferences tab to mark the box for Yes, I use more than one currency.
   
   
4. From the drop-down, pick your home currency and click OK to keep the changes.

To add a profile for the customers:

1. Go to the Customers menu and choose the Customer Centre.
2. From there, tap the New Customer: job drop-down and pick New Customer.
3. This will open another window where you can enter the customer’s information.
4. Fill in the field boxes and make sure to key in the correct currency (US Dollar or Euro) in the Currency drop-down.
   
   
5. Click OK to save the changes.

Follow the same procedure to add another profile for your client. To continue, follow the recommended instructions in the Setup and use Multicurrency article and then perform steps 3-5.

In regard to your other concern, you’ll no longer have to create an adjusting entry to reconcile the bank. Simply set up a clearing account and then deposit the payment from there.

Once done, simply transfer the payment to the USD account. Here's how:

1. Choose the Banking menu and select Transfer Funds.
2. In the Transfer Funds Between Accounts dialog box opens, select the date of the transaction in the Date field.
3. In the Transfer Funds From drop-down, select the clearing account to transfer money from.
4. Pick the USD account from the Transfer Funds To drop-down.
5. In the Transfer Amount field, type the amount to transfer.
6. Fill in the remaining field boxes.
7. Review the transaction and then click Save & Close.

By following these steps, you can now reconcile the transaction seamlessly.

Let me know if you need further assistance while working in QuickBooks. I’ll pop right back in to help. Have a good one. 

@Mila2 

As another option, explore this payment service to deal with multi-currency transaction. You will be get paid in Euro and your client pay your invoice in USD. 

https://veem.grsm.io/veems