Samuel BOHN commented
The multi currency feature is not fully operational and should not be called multi currency accounting as it does not cover all cases
Samuel BOHN commented
You cannot use XXXXXXXXX The currency of the account must either match the transaction currency or be your home currency.
I wanted to have a EUR separate account to track money I loan to my company, the company home currency is HKD, I'm paying various expenses in different currencies. This simple use case unfortunately is unfortunately not possible on quickbooks.
What if tomorrow I open a corporate account with EUR or USD ? And I pay an expense by mistake in a third currency with a EUR credit card while my home currency is HKD ? I'm not gonna be able to use QBO to properly account those expenses, what shall I do make a mix of excel and QBO accounting ? I think this is a big flaw in this system that needs to be addressed
Please please please can you sort out multi-currency.
What is the point in QBO enabling the use of multi-currency when setting up accounts, yet, not letting foreign currency accounts sync with the online banking feature? And worse, why allow foreign currency accounts from having an online sync in the first place when QBO knows full well that it won’t be able to deal with the transactions properly?
And even worse, why do you not make this clear to your customers before they purchase so that they don’t waste hours and hours of time racking their brains over foreign currency transactions that simply don’t add up (due to QBO’s annoying quirks)?
The same problem applies to PayPal online sync. It is pointless setting it up with QBO, because as soon as you encounter any transaction in a different currency from the home currency, you have a problem (QBO thinks all amounts are in the home currency).
This is a modern world with more and more international trade, please bring QuickBooks into the 21st century. Please.
laurence b commented
Multi-currency is a MUST! please add the currency in your customer center..... no difference betwen cad and USD!! Add the column with the information.
We are in Quebec and have customers and suppliers worldwide.
We need to be able to bill in either CAD or USD. Multi-currency is a MUST!
We purchase in USD from a single vendor in the US and sell in CAD. I am paying a third party more than qbo for this one feature. The COG has to be fixed and accounted for in USD. Such an obvious enhancement to your system which would impact many of your qbo customers. FreeAgent is doing this rather well.
Every time I create an invoice or a PO, my product price is different! Very frustrating!
I have 2 possible solution1
1.) Have a switch to turn on/off the automatic exchange rate default to Wall Street Journal daily rate. That way I can set my own exchange rates and then set my product purchase and sale prices with an AUD price that exchanges to the exact purchase and sale price - and doesn't change every day!
2.) Make a way to log in purchase prices in the local currency (in my case USD, TWD and THB). And make a way to make the sale price in multiple currencies (in my case USD and AUD)
I encounter the same issue.
We can't appropriate record a bill and make payment in a different currency without this feature. My request is to make payment by USD bank accounts for bills in CAD.
Currently, we have to set up the supplier as USD and manually change the bill in USD currency. It doesn't make sense.
If we try to record the bill in Canadian and make payment in USD through journal entry, the A/P will not be marked as paid. Thus, there are no real solution for such common transactions for now.
Many companies operate branch offices in foreign countries QBO needs foreign currency capabilities
Multiple Currency functionality needs to be in your US version of Quickbooks Online.
Multi currency Support, or are american companies not allowed to do international buisness ????
PLEASE PLEASE a multi-currency feature, we live in a global environment where we do business around the world, please include this feature. I see people have asked for this for years and years and on the PC version has offered it.
Please allow for multi-currency transactions (for example, foreign purchases made in foreign currency (purchasing in EUROs, for example)).
Please enable multi-currency feature. I need Philippine Peso, USD, GBP & EUR currencies.
Multiple currencies! This is absolutely CRITICAL! You need strong support for multi-currency, and it's GOT to be supported across all devices! (YES, iPhone and iPad apps too!)
Multi currency support!
I want to have a multiple currencies option in my products and services
remmittance should show credits applied
need to have vendor statements
need multi currency to be more robust
Be able to create invoices in EUR and receive payments in USD.