Hi AS37,
Multi currency is a great way to keep track of all the expenses your clients make so they can be billed at a later time. I can help go over how multi currency and exchange rates work in QuickBooks Enterprise.
When you are using multi currency it is best to always make sure you have the latest exchange rate downloaded. It is recommended to do this once a day to make sure your balances are accurate. Due to how often exchange rates change its not always possible to get a balance of zero as it is always changing. One thing you can do though is use the home currency adjustment to correct the exchange rate for your expenses to what they were when the charge was made. You can do this by going to Company>Manage Currency>Home Currency adjustment. You'll just have to know what the exchange rate was at that time to allow for the correction.
Before making any changes it may be best to consult your accountant to make sure that you have the correct numbers and exchange rates to prevent any issues with your books. If you don't have an accountant however we have you covered. You can find one in your area by going to our find an accountant page.
Hope this was able to help.
