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Intuit

How to manually enter an exchange rate

Note The Multicurrency feature and foreign currencies are available in QuickBooks Online Essentials and QuickBooks Online Plus.

The Multi-currency feature provides two methods for manually entering an exchange rate:

  • From the Currency Center
  • When you add a new transaction

You should not change exchange rates from the Currency Center unless the rate is to be used for an entire day.

The following sections guide you through the steps in each method.

From the Currency Center

To manually edit the exchange rate for a currency from the Currency Center:

  1. Select the Gear icon on the Toolbar.
  2. Under Lists, select Currencies.
  3. Locate the currency to change.
  4. In the Action column, select Edit currency exchange.
  5. In the Edit currency exchange rate dialog, select Your rate.
  6. Enter the new rate in the field provided.
  7. Select Save.

The exchange rate is now updated.

When entering a transaction

When you add a new currency with a new customer or vendor, and then add a transaction (such as an invoice or bill) at the same time, no exchange rate is immediately available. Manually add an exchange rate to complete the transaction.

To change the currency when you add a new transaction:

  1. Create the invoice or bill as usual.
  2. Select the Currency field under the Customer or Vendor name field.
  3. Enter the exchange rate to use for the new currency.
  4. When prompted, specify whether the rate you entered applies Only for this transaction or for All transactions in this currency for this date.
  5. Complete the transaction and select Save.

When you save the transaction, the Currency & Exchange Rates list is updated to display the new currency with the most recent rate from Wall Street on Demand.