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Hello there and welcome to the QuickBooks Community!
It sounds to me like you're using the bank feeds feature paired with multicurrency in QuickBooks Online to enter and track your foreign currency transactions. It's fantastic that you're taking advantage of some of these awesome features that are built in to your small-business accounting software. I'd like to give you a hand with accepting your foreign currency transactions.
The first important detail is sorting out whether the account in the Chart of Accounts that corresponds with the bank account you're pulling transactions from in the Bank Feed is set up with the correct currency. I have a feeling that these transactions are pulling from a USD bank account, in which case you'll want to ensure that you've set the currency to USD in the Chart of Accounts. If you haven't already done this, you'll have a couple extra steps to take to ensure that you're able to do so, since you can't change the currency of an account after it's been created. There's another Community thread where another member of the QuickBooks team gives a thorough explanation of how to do this, so please check out that response to learn more.
Once you're sure your account is set up correctly, it's simply a matter of adding and matching transactions. If you've already entered the transactions into QuickBooks with the correct currency assigned, matching will be easy. However, adding the transactions into your books directly from the feed will require the added step of opening it up and ensuring that the currency is correct. This article goes over how to Add transactions in a foreign currency, and I think you'll find it helpful to review. You might also consider setting up bank rules to categorize online banking transactions so that some of these transactions are automatically categorized and you don't have to manually enter the details for each.
Since you'll be required to attend to the details of each foreign currency transaction, there isn't a way to bulk add them into QBO. If this slows down your workflow and you have ideas on how to improve this feature, I suggest navigating to the Gear icon and selecting Feedback. This is a way for you to share your thoughts on how QuickBooks could be improved. Our product development team receives these comments and take them into consideration when making improvements or adding new features to QuickBooks Online.
If you have any further questions, don't hesitate to reach out. My team and I are here to help.
I am struggling with this same issue.
We have 1000s of USD transactions in our Canadian QB account monthly. QB finds the transaction but forced you to click 'match' for each one. You cannot select all. QBO is slow and each transaction takes 5-10 seconds for the page to refresh.
Just awful.
The currency value is already on the bill and there is no logical reason we need to click on each transaction to 'match' them. It is tedious and mind-numbing work.
Why can't the bulk accept button just work? This really is a ridiculous limitation
Hi integral1. I appreciate you chiming in on this thread. I can see the importance of being able to bulk USD transactions in your banking feed. Since this feature isn't available, I highly recommend sending feedback about this to our engineers. You can do this by clicking the Gear and looking for Feedback. In meantime, feel free to ask other questions, I'm here to help.
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