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odilesaade
Level 1

can I transfer money between two foreign accounts (euro and Us$) ?

My local currency is CND$
1 Comment 1
JamesDuanT
Moderator

can I transfer money between two foreign accounts (euro and Us$) ?

aYes, we can easily transfer money from one currency to another. It is great that you've mentioned what is the affected home and foreign currencies, odilesaade.

 

When doing Transfer, we just need to pair the foreign currency with the home currency always. As for your scenario, we'll have to create two Transfers. Here's how to do it:

 

Transfer 1

  1. In the Transfer window, select the Euro in the From field.
  2. Select the Canadian dollar (home currency) in the To field.
  3. Enter their conversion rates and correct amounts.
  4. Click Save and new.

 

Transfer 2

  1. In the Transfer window, select the Canadian dollar (home currency) in the From field.
  2. Select the US dollar in the To field.
  3. Enter their corresponding rates and amounts.
  4. Click Save and close.

 

You can review this article of what is multicurrency in QuickBooks Online is all about: Set up and use Multicurrency in QuickBooks Online.

 

After recording your transfers, you can pull up reports or reconcile the accounts.

 

We'll be around if you have additional questions about dealing with multicurrencies in QuickBooks Online.

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