The foreign currency exchange rate on the balance sheet is incorrect. How do I fix it?

babam · ‎September 26, 2019

I have funds in a USD account which was invoiced from September 2016 through July 2017.

When I check the balance sheet as at November 2018, the value in my local currency is incorrect. I suspect it is because QB is taking the exchange rate set at the time those transactions were made whereas in reality, the current value in my local currency, is the total in the USD account multiplied by TODAY's exchange rate. How do I fix this?

EDIT -FIGURED IT OUT. You need to goto multicurrency settings and then revalue accounts to current market rate.

IntuitMaryJane · ‎September 26, 2019

Hi there, Babam.

You're doing a great job at finding your way around for foreign currency exchange rate.

To read more about multi-currency, please check these articles:

Feel free to stay in touch with me if there’s anything else you need.

View solution in original post

IntuitMaryJane · ‎September 26, 2019

Hi there, Babam.

You're doing a great job at finding your way around for foreign currency exchange rate.

To read more about multi-currency, please check these articles:

Feel free to stay in touch with me if there’s anything else you need.

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The foreign currency exchange rate on the balance sheet is incorrect. How do I fix it?

The foreign currency exchange rate on the balance sheet is incorrect. How do I fix it?

The foreign currency exchange rate on the balance sheet is incorrect. How do I fix it?