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How to change bank account currency?

I had 2 bank account in my system.  My base is in CAD and the second bank is USD.  Before I activated the multi-currency feature, I simply used CAD for both account. Now I activated multi-currency option, is there a way to change one of my current bank accounts to USD type? or do I have to create a new USD bank account?

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Best answer 03-11-2019

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Established Community Backer ***

You cannot change the currency setting of an existing ban...

You cannot change the currency setting of an existing bank account.

You will have to create new USD bank account, migrate the existing balance into it, then de-activate the old one.

I suggest you set an account number for the new account immediately next to the old one, and use the same word name with (newUSD) added - then edit the existing one to add (old)

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Established Community Backer ***

You cannot change the currency setting of an existing ban...

You cannot change the currency setting of an existing bank account.

You will have to create new USD bank account, migrate the existing balance into it, then de-activate the old one.

I suggest you set an account number for the new account immediately next to the old one, and use the same word name with (newUSD) added - then edit the existing one to add (old)

Not applicable

Re: You cannot change the currency setting of an existing ban...

Following:

How do you migrate the existing balance into the new account?

QuickBooks Team

Re: You cannot change the currency setting of an existing ban...

Hi Jodes2019,

 

Thanks for joining the discussion here in the Community! 

 

Migrating the existing balance is quite simple. When you set up your new bank account, the system will prompt you to enter certain pieces of information, such as a name and opening balance. The opening balance is where you'll input the balance of the existing account. 


Note: Since your existing bank balance is in CAD, ensure you've properly converted this value into USD funds. 

 

Once your new USD account has been set up, you can make the existing account inactive. To do that, click the small Pencil icon appearing on the bank account name > Edit account info > Check off the box next to "Disconnect this account on save". 

 

If you have any other questions, please let me know. 

Cheers.

Not applicable

Re: You cannot change the currency setting of an existing ban...

Thank you 

But I need all of my information from the "old" account to come over too....will it?

QuickBooks Team

Re: You cannot change the currency setting of an existing ban...

I see what you're saying. Once the new account has been synced with your online banking, the account will automatically pull in the last 90 days of transactions from your Financial Institution's website. To upload more than 90 days worth of transactions, take a look at this article: Manually upload transactions into QuickBooks Online

 

If there's anything else you need a hand with, just let me know.