When buying from an overseas supplier and paying them in for example USD in the cost price under products/services will the cost price be in USD or NZD? Thanks

Hi service-vpnz-co-,

Thanks for posting in the Community!

In QuickBooks Online we can only assign a currency to a customer, supplier and accounts like bank and credit card. Items or products cost will base on home currency. 

If you have purchased the item from a foreign supplier, you can add a supplier with their currency using the steps below:

1. Click on the Expenses tab, and click on Suppliers.
2. Click on New supplier, and under the Currency dropdown select the currency of the supplier.
3. Enter the supplier's name and other information.
4. Click on Save.

When you record the purchase made from the supplier, you will see the exchange rate and the converted amount in foreign and home currency.

I recommend checking this link to learn more about: Set up and use multicurrency in QuickBooks Online.

Post again in the Community if you have other concerns. I'll be here to help you.

this supplier is set up as USD can you please let me know if the cost price shown here would be in NZD or USD 

sales prce is $7224 (nzd)

cost price is $7850 ( would  this be usd or NZD)

Thank you for your response, service. I'm here to provide additional information about how QuickBooks displays the currency for the cost rate of the item.

Even if you set up the supplier in USD, the system will display both the cost price and sales price in your home currency (NZD) in the Product/Service information window. 

The USD currency will only have an impact when creating a transaction for the item. Please see the screenshot below.

If you have some additional questions, please add a post below. I'll be around to help. Take care and stay safe.