I'd be happy to go over this with you so you can ensure you have the currencies you need set up in your QuickBooks Online account. I know how important it is for transactions to be in the right currency in order to properly balance your books, so I want to make sure you have a sense of how the program works.
As Fiat Lux mentioned, before turning on any multicurrency feature, QuickBooks Online Canada will default your home currency to Canadian dollars. If you need to choose a different home currency for whatever reason or set up other currencies, you can absolutely do so when you're using QuickBooks Online Essentials or Plus by turning on the multicurrency feature. If you're using the EasyStart package, an subscription upgrade is in order to be able to use this feature.
There are two important things to note with the multicurrency features:
If you've accidentally set up your QuickBooks Online with the incorrect home currency, that'll mean starting a new QuickBooks Online subscription. Make sure to cancel the subscription with the incorrect currency when you're ready so you're not paying for a subscription you're no longer using.
Likewise, if you've set up a customer, vendor, or account register with the wrong currency, you'll need to make it inactive.
Here are some articles about QuickBooks Online's currency feature. Give them a read and let me know if you have more questions.
Have a great day.
Thanks for following up shiva-ippakayala. I want to make sure you're able to work through these options to make sure you have the solution you need for your books. While I'm unable to call you, I can let you know the options for getting in touch to have a one-on-one conversation with an agent who can help. Choose from one of the following options.
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