How to change currency in QuickBooks? Setup and add new currency with ease.

How to change currency in QuickBooks? Setup and add new currency with ease.

QuickBooks is a boon for those companies who deal with multiple currencies at the same time. Dealing with different countries involves a bit more work in keeping and maintaining books of accounts in multiple currencies. Thus if you are finding it difficult then lets check out on “How to change currency in QuickBooks?”

Are you a Quickbooks user?

Well,

The work doesn’t get over at recording those transactions in their respective currencies but you will then need to convert those currencies to balance out your reports. At first, the whole thing about multiple currencies will look daunting, but with QuickBooks, your work will be a cake walk.

Before you change currency in QuickBooks?

If you are using QuickBooks and want to change currency or use multiple currencies at the same time then here are few points to be kept in mind:

  • Activating multiple currency features in QuickBooks cannot be reverted. Thus only enable multi currency feature when your business actually deals in them.
  • Maintain a backup copy of your files so as to have extra security.
  • When using multi currency, you should also enable activating and be tracking other currencies as well. This is because different accounts and vendors will be using different currencies, thus you need a tracking capability to check rates within QB.

How to change currency in QuickBooks?


Once you have taken care of all the precautionary measures, now it’s time to change currency in QuickBooks. Please follow along and your query “How to change currency in QuickBooks” will be sorted.

  1. Login to your QuickBooks account and navigate to your company file.
  2. Choose the settings tab and click on company settings button from the drop down option.
  3. From the newly displayed window, select the advanced
  4. Scroll down to find Currency’s option.
  5. Now choose your home currency from the regular currencies
  6. Choose the Multi currency radio button and this will enable the said.
  7. You will now be warned with a message that “Turning on Multi currency will lock your home currency and will never be changed”. Click Ok to the message.
  8. Save your preferences and your Multi currency account will now be active.

How to add currency in QuickBooks?

In case, if in future, you expand and add more currencies in your portfolio then same will need to be added in your QuickBooks account. This can be done through the way of following steps:

  1. With your QuickBooks active, choose the settings tab.
  2. Navigate to currencies tab,
  3. Click “add currencies”.
  4. From the predefined list, choose the currency you would like to add.
  5. Click save, and your currencies will now be added your companies account.

How to add foreign currency transaction?

Before you can add foreign currency transaction within your program, please take a note of the following:

  • Only one currency can be allotted to one client.
  • All your current clients within your program will be allotted your regular currency.
  • You can add foreign clients with foreign currency through the way of vendor or customer center tab. If the name of your foreign client perfectly matches with you regular client then you can use a slightly different user name.

Steps to add foreign currency transactions:

  1. To add a foreign customer to your account, click on the customer center tab. You can find the tab from the top navigation bar. To add a foreign vendor, click on the vendor center tab.
  2. To add a customer, click on the new customer tab and to add a vendor add a new vendor tab.
  3. Enter all the details related to that customer or vendor.
  4. Click on the currencies tab and allot a currency to that customer or vendor.
  5. To save your preferences, choose to click ok.

If you have followed the steps above then you are now:

  • Successfully change currency,
  • Add new currency to your account,
  • Add foreign currency transaction within QB and
  • Allot a desired currency for that account.

But in case if you are still looking for an answer for “How to change currency in QuickBooks” then get all the help from our QuickBooks proadvisors. Our QB professionals are highly qualified to take any query you might have, thus wait no longer and resolve your issue now.

Still in Doubt…!

Request a Call Back

Talk to our Quickbooks Proadvisor and resolve your issue over a phone call.

We gaurantee 100% satisfaction

You can even give us a call at our Quickbooks support Canada, UK and USA at ✆ +1800-940-7442 and talk to our Proadvisor now.


Related articles:


Report Your Issue

(Didn't find what you were looking for! Report your issue and get customized help from our QuickBooks experts.)

QuickBooks Version:
Edition Year:
No of User: Licence
HELP Needed:
Name:
Phone:
Operating System:

What is Qbpro?

We are a Quickbooks and TurboTax consulting firm that takes care of all the issues that people might ever face within these programs. If you are using any of the above platforms and are continuously faced with bugs then we are here to help. You can connect with us for errors related to Quickbooks or TurboTax via any of the medium below:

What Our Clients Say...

Here is what people have to say about us.


Areas we serve:

We are proud to announce that we are covering entire Canada. Thus if you face any issues now, give us a call as our proadvisors work 24/7 to get your issues fixed.


Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Me

Leave a Message

Disclaimer: QBpro.ca is a reputable QuickBooks® Consulting firm that provides professional support services related to your accounting software. It is also a front-runner in providing 3rd party technical support services for quickbooks.

Canada

"Get QuickBooks Support, no matter where you are living in Canada. Just Call and get issues fixed."

Alberta British Columbia Manitoba New BrunswickNewfoundland and Labrador Northwest Territories Nova ScotiaNunavut Ontario Prince Edward Island Quebec Saskatchewan Yukon

 

Are you confused and not able to manage your books on QuickBooks…!

Dial us: ✆ +1800-940-7442

Still facing issues

Get Help For Your QuickBooks Accounting Software

Resolve your every issue on a
Free 30 minutes call

Enter your details to get a cheat sheet of 96 awesome tricks to use Quickbooks like a pro.

We hate SPAM and promise to keep your email address safe.

Get FREE 30 minutes, Resolve your issues now!

Call Now: 1-800-940-7442