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Explore this app to send your payroll in CAD and your employee will receive it in MXN. Then you may record the payroll transaction in journal entry.
https://transferwise.prf.hn/l/75dqNgB
Hi there sarmurray,
As you'll glean from the handy guide that @Lourdes-Fernandez has shared, the Multicurrency feature in QuickBooks Online doesn't allow you to manage Payroll in foreign currencies. As @Fiat Lux - ASIA has shared, there is at least one app, and maybe many others that'll make paying employees in foreign currencies a little easier.
Submitting Feedback through the Gear icon is a great way to let our product development team know that expanding
our Multicurrency feature to work with the Payroll module would be helpful. New Features get added regularly and yours may just be up next if enough other users have requested work on the same feature.
Check out the articles below to learn more about how Multicurrency works and how you can use it:
Let me know if there's more you need a hand with. I'm happy to help! Take care.
Thanks so much for your response. TransferWise is great. I do use it. But for this purpose I am paying an employee with funds that are already in another currency.
Thank you. This was a very helpful guide and clarified for me that at this time what I’m wanting to do isn’t an option.
I'm glad that @Lourdes-Fernandez and I were able to clarify things for you, @sarmurray. Don't hesitate to reach out again here in the Community if you need help with antoher QuickBooks-related question or query. Have a great week!
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