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Level 1

Hello. How can I setup a GBP denominated product ? Revenue, Inventory + COGS accounts are in GBP but system says "Transactions can have only one foreign curr. at a time."

 
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Level 6

Hello. How can I setup a GBP denominated product ? Revenue, Inventory + COGS accounts are in GBP but system says "Transactions can have only one foreign curr. at a time."

Hey accounts252,

 

It's awesome that you're using the full potential of QuickBooks Online to manage your international business. The system is focused on making things simple, and helping you manage your books accurately. Income and expense accounts default to your home currency, so inventory items will also be denominated in the currency you selected when activating multi-currency.

 

To really get to the bottom of this error, it would be beneficial to take a closer look into your account. Please reach out using one of the methods below, and an agent will be happy to help sort this out.

 

Phone and Chat: Click Contact Us to learn how to reach phone and chat support.

Schedule a Callback: click (?)Help in the upper right > click Contact Us > explain your situation > click Let's Talk > choose Get a callback (Note: Callback hours are the same as regular phone hours.)

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Don't be afraid to get in touch! I want to make sure you're able to set this up.

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Level 11

Hello. How can I setup a GBP denominated product ? Revenue, Inventory + COGS accounts are in GBP but system says "Transactions can have only one foreign curr. at a time."

@accounts252 

If you are a wholesaler, consider using an inventory management app with the B2B feature to have multi-currency of your product price and integrate it with your QBO.