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Running a business

How to Use Multicurrency in Quickbooks

Many businesses, particularly online businesses, sell to customers from all over the world. QuickBooks’ multicurrency feature lets businesses keep track of their income and expenses in multiple currencies. To use multiple currencies in QuickBooks Online, take the following steps:

  1. Click the Gear icon, select Company Settings, select Advanced and then Currency.
  2. Check the Multicurrency checkbox to turn on the multicurrency feature. Once it is turned on, it can’t be turned off.
  3. To manage the list of currencies available, click the Gear icon, select Lists and select Currencies.
  4. Once you have set up your list of currencies, set up a foreign currency account in QuickBooks.
  5. Click the Gear icon, select chart of accounts and select New.
  6. Fill in the required fields on the screen and select the currency you want in the Currency dropdown list.
  7. Click Save and Close to save the new account.

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