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Community Explorer **
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Uising different home currencies when based in UK

I am using QuickBooks Pro 2016 and based in the UK.  We recently set up a new company and office in Ireland, to help us deal with Brexit and I am looking to manage the Accounts for both companies from here in the UK.  When I set up the new company, because I am UK based it defaulted to GBP as the home currency.  This gives me all sorts of problems with VAT and financial statements as I need for the Irish company Accounts to have EUR home currency, while the UK arm of the business continues to use GBP.  Is this possible?  If not, is it a fix that might be available in the near future please?

Best answer 02-27-2019 05:37 AM

Accepted Solutions
QuickBooks Team

Re: Uising different home currencies when based in UK

Hey Snakey73,

 

Thank you for your post.

 

You can select home currency as EURO during the initial set up. This would be the only time you can set home currency to anything other that GBP.

 

Thanks.

16 Comments
QuickBooks Team

Re: Uising different home currencies when based in UK

Hey Snakey73,

 

Thank you for your post.

 

You can select home currency as EURO during the initial set up. This would be the only time you can set home currency to anything other that GBP.

 

Thanks.

Frequent Explorer *

Re: Uising different home currencies when based in UK

Dose it mean that i can't change the home currency know, after i start using the system?!

 

We started using the system from end of 2018,  currently the system setup with USD currency while our home currency is BHD, and when I decide to print the documents (i.e Invoices, Receipts, ect) from the system it shows $ currency.

What shall we do..?

 

May Thanks

 

 

QuickBooks Team

Re: Uising different home currencies when based in UK

Hello Welayah

 

Just to confirm are you also using the desktop product?If so what version are you using? Do you have customers/suppliers set up to pay be paid in US currency and your home currency is BHD but the reports show in US currency?Could you send us a screenshot via Private message as an example?

 

Thank you

 

Emma

Frequent Explorer *

Re: Uising different home currencies when based in UK

Hi dear Emma, 

Thank you for your quick replay, our version of QB desktop is 2017.
 Actually we are a single currency co. which is BHD, therefor even our customer/suppliers are BHD currency, unfortunately when we setup the system we did not notice that we have to change the currency from US to BHD at that time (now it's unchangeable, see the attached file) . that is why now we are facing this problem because we want to start print the documents from the system.

 

Frequent Explorer *

Re: Uising different home currencies when based in UK

Actually our reports comes with GBP Currency not US$ even though the home currency shows USD (see the previous attached screen)

Please, see the attached reports

 

QuickBooks Team

Re: Uising different home currencies when based in UK

Hello there, Welayah.

 

Once you've setup your home currency, the option to change it is unavailable. However you can activate Multi-currency then, set up Bahraini Dinar (BHD) as your home currency.

 

In addition, once you've turned on Multi-currency, you can no longer deactivate it. I would suggest backed up your company file before activating Multi-currency.

 

Meanwhile, here are the steps to activate Multi-currency:

  1. Go to the Edit menu, then choose Preferences.
  2. Select Multiple Currencies on the left pane.
  3. Go to the Company Preferences tab.
  4. Select the Yes, I use more than one currency button.
  5. Then, choose BHD as your home currency.
  6. Continue with the prompt.
  7. Then, OK.

Keep in touch with me if you have further concerns. I'm always here to help!

Frequent Explorer *

Re: Uising different home currencies when based in UK

Hi Dear,

 

I have tried creating a new company, but unfortunately the QB desktop version dose not allow you to specify your home currency in any of the setup steps.

And once you finish the setup, you will fined that the system put the Home Currency US$ and can't be changed, unless you activate the Multi Currency feature (which it will disabled the other features in the system i.e Insights ect) .

 

Therefore, no use of creating new company and import/export data (even though it's a long and risky process with one year data of 5 companies), the only solution I can see know is Activating the Multi-currency. Is this right?

 

Thanks & Regards

 

 

 

Highlighted
Community Manager

Re: Uising different home currencies when based in UK

Hello Welayah,

 

Welcome back to the Community. 

 

You are correct. Setting up a company file doesn't require you to change/update your Home Currency. You'll need to activate this from the Edit Preference settings. From there, you can choose the correct currency. Please refer to the article above for the detailed steps.

 

Let us know if you need anything else. Thanks! 

 

 

Frequent Explorer *

Re: Uising different home currencies when based in UK

Hi,

You mean I have to switch to Multi Currency, right?

 

Thanks for your cooperation

 

QuickBooks Team

Re: Uising different home currencies when based in UK

Thanks for getting back to me, Welayah.

 

Yes, you're right. Please follow the steps above on how to turn on Multi-currency.

 

Feel free to reach out to me again, if you have other concerns. I'd be happy to help!

Frequent Explorer *

Re: Uising different home currencies when based in UK

Dear,

 

We have a problem with the remittance advice (write checks - print), it dose not show all the bills paid (bring only 15 rows/bill) and dose not print the remaining on 2nd page.

(see the attached doc)

 

Thanks & Regards

QuickBooks Team

Re: Uising different home currencies when based in UK

I've checked your screenshot and came up with a workaround, Welayah.

 

You can split the remittance advice to 2. This way, it will show all the bills paid. Having said that, when you pay the bills, you can choose the 1st 15 transactions, then choose the remaining bills on the last remittance advice.

 

Feel free to let us know if you have more questions. 

Frequent Explorer *

Re: Uising different home currencies when based in UK

Good Morning dear Mae,

 

Thank you for your suggestion (workaround).

But this is unfortunately not a practical solution.

Hope, you will find a good solution soon.

 

Many Thanks again.

Welayah

 

   

 

 

Frequent Explorer *

Re: Uising different home currencies when based in UK

Good afternoon dear,

 

I'm trying to locate the Payment Voucher or Expense Voucher, which should comes along with any payments we do, other than check print.

At the same time, on "Write Check menu" there is Print Check, and I'm selecting Voucher style, that report does not show any where in the report the check number (See the attached report).

 

Many thanks

   

QuickBooks Team

Re: Uising different home currencies when based in UK

Hi there, Welayah.

 

Thanks for providing a screenshot. 


Based on the details you’ve shared, you could have been using the US version of QuickBooks Online. That’s why you’re unable to locate the Payment/Expense Voucher (this feature is only available in QBO UK). 
Also when creating checks, the print later might have been selected that is why you’re not having a check number. 


You might consider using the UK version of QuickBooks Online to take advantage with these features. 


Please consider on visiting us again if you have further questions. 
 

Frequent Explorer *

Re: Uising different home currencies when based in UK

Hi dear,

 

We are using QB desktop, because QB online version dose not have a lot of features which are available in QB Desktop one of them and main is Job Order