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Established Member

Booking a paid untility deposit in a foreign currency

The problem I am having is setting up an "other asset" account to book a paid utilities deposit in a foreign currency.  When I select add a new account, it does not give me an option to select the currency.  The deposit we had to give to the utility company is in a foreign currency and not our home currency.   I have multiple currency selected on my QB account.  It lets me change the currency when I add an expense account but not an asset account. Any ideas on what I need t do?

 

Thanks

Mike

1 Comment
QuickBooks Team

Re: Booking a paid untility deposit in a foreign currency

Good day, MikeJ922.

 

Setting up foreign currency in the Other Asset account is not available right now in QuickBooks Desktop. However, you can create a bank account then from there you can assign a currency.

 

Here's how:

  1. Click List on the upper tab then, choose Chart of Accounts.
  2. Right-click anywhere then choose New.
  3. Select the Bank button.
  4. Click the Continue button.
  5. Put the account name in the Account Name box.
  6. To choose your desired currency, click the Currency drop-down.
  7. Fill out the necessary information.
  8. Click on Save & Close or Save & New button.

 

Feel free to post here again. I'd be happy to help!