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Dlmm324
Level 2

Is there a way to set up a supplier as a US$ account. The home currency is CDN and the multicurrecy is turned on

 
2 Comments 2
PatriciaT
QuickBooks Team

Is there a way to set up a supplier as a US$ account. The home currency is CDN and the multicurrecy is turned on

Hi Dlmm324,

 

Once you have the multicurrency feature turned on, QuickBooks Online enables you to choose among a myriad of currencies when setting up customers and suppliers. I'll be happy to show you how. 

 

 To add a supplier with their foreign currency is a pretty straightforward process.

  1. From the left menu, go to Expenses.
  2. Choose Suppliers, then New Supplier.
  3. Enter the supplier's name and other info.
  4. From the I pay this supplier with ▼ dropdown menu, select the currency you use for this supplier.
  5. Select the Default expense account if you'd like and Save.

You're now ready to record transactions in the currency you pay your supplier with. For more on how to set up suppliers with a foreign currency in the system, check out this article: Add a supplier with a foreign currency in QuickBooks Online

 

I hope this helps! Feel free to stop by if you need anything else.

Fiat Lux - ASIA
Level 15

Is there a way to set up a supplier as a US$ account. The home currency is CDN and the multicurrecy is turned on

@Dlmm324 

As another option, you may utilize one of these services to pay your bills. You may keep pay it in CAD and your vendor will receive the payment in USD.

https://veem.grsm.io/veems

https://prf.hn/l/7gg1NWy

 

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