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lisarose
April 17, 2022
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Setting Up Multiple Currencies

  • April 17, 2022
  • 3 replies
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Hi, I'm trying to set up multiple currencies on my quickbooks Online Self employed account - I can't find a way to do it anywhere - can someone please help?

Cheers,

Lisa

Best answer by JenoP

Good day to you, Lisa. I'll help with your question about setting up different currencies in QBO.

 

Using multiple currencies is currently unavailable in QuickBooks Self-Employed. You'll want to convert the amount to your home currency before recording it in your account. 

 

You can read more details about the features and functions in QBSE in these articles:

 

 

You might also want to upgrade to QBO that offers a multicurrency feature. Please see these articles in case you want to go that way:

 

 

Reply to this thread or post new questions in the Community if you have follow-up questions. We'd be glad to offer our help anytime you need it. 

3 replies

JenoP
JenoPAnswer
April 17, 2022

Good day to you, Lisa. I'll help with your question about setting up different currencies in QBO.

 

Using multiple currencies is currently unavailable in QuickBooks Self-Employed. You'll want to convert the amount to your home currency before recording it in your account. 

 

You can read more details about the features and functions in QBSE in these articles:

 

 

You might also want to upgrade to QBO that offers a multicurrency feature. Please see these articles in case you want to go that way:

 

 

Reply to this thread or post new questions in the Community if you have follow-up questions. We'd be glad to offer our help anytime you need it. 

Fiat Lux - ASIA
Fiat Lux - ASIA
April 17, 2022

@lisarose 

Multicurrency feature is only available on QBO Essentials and Plus.

https://quickbooks.grsm.io/UK

 

Another option, open a Wise account with multicurrency account as a workaround to integrate with your QBSE.

https://wise.prf.hn/l/64dl92k

  

A
Anonymous
July 12, 2023

I recently was able to add some non-US accounts to QBSE, and the amounts show up in the proper currency. For example, I can add an account based in the UK which is listed when adding the bank account to sync with QBSE. After adding the account the transactions do show in GBP (£). While I'm sure it's just reflecting the totalled value in USD ($) in the totals for all transactions, it does indicate the appropriate currency in the transaction entry though.

 

It does not appear to be possible to import older transactions into the account using the currency of the account. An example of this is when adding old transactions to a UK account that uses GBP (£), When importing the transaction they show up as USD ($).

 

So while there seems to be support for bank accounts that use a currency other than USD, it does not handle them as separate currencies or convert the amounts, or allow the import of older transactions to show in a different currency.

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