FX Rates

Not just every day but every four hours (4), @DP-DEVO.

QuickBooks Online(QBO) downloads and uses exchange rates from IHS Markit.

Since QuickBooks is compliant with IHS Markit, as a workaround, you can manually enter your own rates for greater control over your transactions. The ability to use multiple currencies and manage FX rates is available in the QuickBooks Online Essentials, Plus, and Advanced plans.

First, turn on the multicurrency feature in your account settings:

1. Click the Gear icon in the top right corner.
2. Go to Account and settings, then select the Advanced tab.
3. In the Currency section, click the pencil icon to edit.
4. Toggle on the button Multicurrency and check the box I understand I can’t undo Multicurrency to confirm that you understand the terms.
5. Click Save.

Next, set up a new currency:

1. Go to the Gear icon.
2. Select Currencies.
3. Select Add currency.
4. Select the new currency from the Add Currency dropdown.
5. Select Add.

For more information on how QuickBooks operates with multiple currencies, refer to this article: Set up and use Multicurrency in QuickBooks.

Feel free to reach out if you have any more questions about QuickBooks.