Can I bill in 2 different currencies? CAD and USD? Is the % the same for both currencies?
Hi there Anita,
This is possible in QuickBooks Online Essentials and Plus versions by enabling the multi-currency feature. Let me show you the steps:
Next thing we need to do is to Assign a foreign currency to your customers. This way, whenever you create invoices for these customers it will use the foreign currency you assigned to them. QuickBooks Online will use the foreign exchange figures based on the date you put on those invoices, and not the date when you create them.
Leave a comment below if you have any other questions or clarifications.
Hi jennmcmillan. Don't worry, I'll point you in the right direction to get this figured out. I'd like to have our phone support team take a closer look at what's going on. QuickBooks Online Essentials accounts do have the ability to use multicurrency, and it seems an error has occurred in our system since you're not seeing it.
Get in touch at 1-855-253-1536 and explain what's happened. Agents are available from Monday to Friday between 9 a.m. and 8 p.m. EST and Saturday from 9 a.m. to 6 p.m. EST. They'll walk you through some troubleshooting steps and escalate the issue if needed. I know how vital this tool can be and want to make sure this gets taken care of. I'm here if you need clarification for anything.
Thanks for keeping me updated. Sometimes these kinds of issues are better handled through phone support. One way or the other, we'll get this figured out!
I would like to make multi currecny as well and the option is not available? please confirm how to make this work.
You'll need to upgrade to a higher level plan (if you're currently on the basic plan) and you need to set the billing currency for each customer - you're not able to switch back and forth between currencies. The only downside that I found out was that once you upgrade your account for this functionality you're not able to go back down to a lower level. I needed to be able to bill a customer in both Canadian and US for different orders, and found out the hard way after I upgraded my account (that couldn't be reversed) that it wasn't possible. So be sure you 100% need the functionality and it will work as you need it to before you upgrade.
I'm using QB Self-Employed. Can I send invoices in multiple currencies? I often need to invoice clients in Euros and USD, as well as my CAD clients.
Great question! It's good to know what capabilities the version of QuickBooks you're using has to see if it meets the needs of your business. I'll point you in the right direction.
QuickBooks Self-Employed doesn't currently support multiple currencies. I outlined how you can proceed and the different options for another user who was also asking about multicurrency in QuickBooks Self-Employed. Take a look at the post and my response here: Transfer between bank accounts with multiple currencies
Give me a shout if you need clarification. Enjoy your day. :)