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garfield1
Level 2

Multi-currency invoicing in USD and CAD

We are a Canadian company with CAD and USD customers. The home currency is CAD. I have to invoice CAD to Canadian customers and USD to US customers. I set all customers in these 2 categories, no problem. But when I tried to set CAD or USD in products and Services, I cannot. It is only in CAD. Is there a solution for this? I need to have USD in my product list for invoicing our US customers.

6 Comments 6
JasroV
QuickBooks Team

Multi-currency invoicing in USD and CAD

Hi there, @garfield1.

 

The option to set a foreign currency in your Product and Services is not available in QuickBooks Online (QBO).

 

I'll take note of this feature request for future enhancement. In the meantime, you'll want to go to our Apps menu and search for a third-party app that has the feature you need. 

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I also encourage checking our QuickBooks blog page to know about the latest features and updates in QuickBooks.

 

You can also check our Help articles page to read and learn some best practices in managing your QBO account. From there, you can read helpful articles that can guide you in your future tasks.

 

Should you have other concerns or questions, you're always welcome to post here anytime. Have a great day and take care!

Fiat Lux - ASIA
Level 15

Multi-currency invoicing in USD and CAD

@garfield1 

You may have 2 options:

1. If you are a wholesaler trading goods, consider having an inventory management app with B2B feature. You may set multi-currency list price for your customers. You may start exploring these apps

http://www.primaseller.com/?utm_source=Affiliate&fp_ref=primaseller

https://go.tradegecko.com/register?code=fiat-lux

https://www.zaperp.com/ref/25/

 

2. Explore this payment service to deal with multi currency transactions. It supports QBO. You may release invoice and get paid in CAD, and your customer will pay it in their local currency (e.q US customer pays in USD).

https://veem.grsm.io/veems

canadian456
Level 1

Multi-currency invoicing in USD and CAD

Hi there,

 

Has quickbooks figured out how to switch currencies yet? It's been just over 3 years now since you received the feature request - is this function ready?

 

Regards,


Gabe

Fiat Lux - ASIA
Level 15

Multi-currency invoicing in USD and CAD

@canadian456 

What do you mean with "switch currencies"? Do you need to change your home currency in QB Online or else?

ztrifuno
Level 1

Multi-currency invoicing in USD and CAD

I am having a similar issue.  I buy products in Canada and sell to the USA.  I bill my US customers in USD and pay my Canadian manufactures in CAD.  When I set up the item in product and services I am not able to change the Sales/Price Rate to USD.  The cost is in CAD so that is fine but if I ever buy from a US manufacturer and sell to a Canadian supplier I will need to switch this.

DHeraV
Moderator

Multi-currency invoicing in USD and CAD

Hello there, @ztrifuno. I have here some insights to share about your query.

 

Since changing home currency is unavailable in QuickBooks Online (QBO), modifying the product's sales/price rate won't be possible. However, you can use a third-party application that can help you through your goal. You can check out our QuickBooks App Store to look for apps that work best for you.

 

Moreover, I can see how convenient it is to be able to change the sale/price rate in QBO. I recommend letting our Developers be notified of your idea by leaving feedback. They might consider your idea for future product enhancements.

To send your input, here's how:
 

  1. Open your QBO account.
  2. Go to the Gear icon and select Feedback.
  3. Type in your suggestions and then click on Next.

 

Additionally, I'll also share this article which can serve as your reference to learn more about the multi-currency feature in QBO: Frequently Asked Questions about Home Currency Adjustments


Feel free to leave a reply if you have additional QuickBooks-related queries. The Community team always has your back. Have a good one.