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Level 1

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 March 11, 2019

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Anonymous
Not applicable

How to change bank account currency?

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)

View solution in original post

11 Comments
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Anonymous
Not applicable

How to change bank account currency?

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)

View solution in original post

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Level 1

How to change bank account currency?

Following:

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

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QuickBooks Team

How to change bank account currency?

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.

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Level 1

How to change bank account currency?

Thank you 

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

QuickBooks Team

How to change bank account currency?

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.

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Level 1

How to change bank account currency?

I am not able to merging. It states that both accounts need to be in the same currency

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QuickBooks Team

How to change bank account currency?

Hi LillianHausgaard. I'm here to provide the support you need. To make sure we're on the same page, could you walk me through on what you're trying to accomplish and what you've done so far? I'll be on standby. 

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Level 1

How to change bank account currency?

Hi there

I would like to change one bank account from CDN to USD.  I tried the above suggestions of merging but when I try merging it tells me that both accounts need to be in the same currency

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QuickBooks Team

How to change bank account currency?

Thanks for elaborating. Is the USD account a new account or it's an existing account? For visual reference, please send me a full screenshot of the error message you're getting when you try merging the accounts. Feel free to cover any personal info on the screenshot. 

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Level 1

How to change bank account currency?

 
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QuickBooks Team

How to change bank account currency?

I appreciate you sending the screenshot. Quick question, is the USD account a new account or it's an existing account?