Accepting multiple transactions in a bank overseas currency like Eur, without confirming the exchange rate for each transaction. Ac"accept" function in the bar is in grey

Hi there, @Giulio.

I'm here to help ensure you're able to accept multiple transactions with different currencies. 

You can utilize the Multi-currency feature to help you manage them in QuickBooks. Please note that this feature is only available in the Essentials, and the Plus versions.

Here's how:

1. Go to the Gear icon at the top, then select Account and Settings.
2. Choose Advanced on the left panel.
3. Click on the Pencil icon for Currency, then select Home Currency.
4. Mark the box for Multi-currency.
5. Click on Save and Done.

Since you’ll be accepting Euro and Pounds, ensure you create these customers and banks in QBO to efficiently track transactions for each currency. Here's how:

To add customers

1. Go to Sales on the left panel, then choose Customers.
2. Click on the New customer button.
3. On the Customer Information window, enter the information for your UK agency/ EU client. Then click Save.

To add the foreign currency accounts

1. Go to the Gear icon at the top, then choose Chart of Accounts.
2. Click on New in the upper-right hand, then choose the correct Account and Detail Types.
3. Enter the account’s name in the Name field.
4. Under Currency, click on the drop-down and choose GBP British Pound Sterling/EUR Euro.
5. Click on Save and close.

Once done, you can now create invoices and accept payments in Euro. Then, transfer the funds from your EU account to the GBP bank.

The information I provided should point you in the right direction.

If you have additional questions about QBO, reach out to me by posting a comment below. I'm here to assist you further.

@Giulio 

As an additional option, consider opening a virtual bank account at Wise to deal with multi currency transactions. Utilize the bank feeds if required.

https://wise.prf.hn/l/64dl92k

Hi Katherine, thank you for the prompt reply which I really appreciate, although is not related to the technical question I have posted for the IT department of QB too, because I did not find any solution to the matter in hand.

It is already assumed that:

1. the multi currency feature is already active on QB for this company ( gear , multi-currency exc... ACTIVED)

2. the bank feeds too, even for the foreign currencies bank accounts ( In this case EUR, USD)

3. there are already a plenty of customer and suppliers set in foreign currency ( Eur , Usd, exc)

The issue is related to the word: <<ACCEPT>> at wish IT DEP would like to put their attention on.

This particular feature is enabled when you select in one of the the bank account , more transaction ( it is a pop up feature appears when you make a multiple transaction's selection above the bank account  (n the option are "Accept", "Update" and "Exclude"). This should help exactly in the case we would like to add in one time more transactions.

BUT in the case of foreign currency the option ACCEPT is disabled ( in Grey Colour ), because the software << Obliged >> you (the user) to check each exchange rate proposal for each single transaction, amending or confirming that.

In another way, If you tray to "add" a single transaction, pushing the relative button (ADD) , a showing pop-up window appears with this currently warming <<Something’s not quite right

AGREED. This would be a great workflow improvement.

Have to accept every transaction individually is laborious. 

Users are unlikely to disagree with the 'day rate' QB chooses.

Better to default to 'accept' and let user edit if needed. 

I note: It seems to be populating the day rate, only when the transaction is selected. Maybe that needs looking at. 

And/Or a column list of imported transactions that indicates the proposed day rate so that users and see at glance if they are happy with it.  If that would then allow multiple Add/Accept with these forex transactions. 

Please make this change it's actually crazy that this issue has been around for so many years and yet nothing has been done. Manually approving transactions is such a waste of time. 

At times, we roll out enhancements based on our customer's requests, @Worri3d.

I recognize how relevant accepting multiple foreign bank transactions is without asking for the exchange rate for your business. Currently, this option is unavailable in QuickBooks Online.

That being said, it is best to send a recommendation to our product developers. They'll review this idea and might consider updating it in the future.

Here's how:

1. Go to the Gear located at the top.
2. Under Profile, click Feedback.
3. Enter your recommendation and select Submit.
   
   

You can also utilize this link to check the status and keep you in the loop on our progress of your request: Customer Feedback for QuickBooks Online.

I also encourage you to visit this resource that will guide you in reviewing downloaded transactions: Categorise and match online bank transactions.

As always, add a comment below if you have any other questions about managing your transactions in QuickBooks. I'm here to help always. Take care!

I am starting beliving that probably QB is more interested in our fees than the quality of software...

This is really unacceptable.

Not only does Quickbooks NOT accept linking to one of the main banks in Singapore (UOB), we also have to MANUALLY approve the FX rate?! What.. da... hell!??!!!!!!!!!!

How are businesses with hundreds of transactions per day supposed to do this?!

@SebasFP 

Afaik, QBO UK version only focuses on supporting financial institutions located within the UK. If you want to manage a SGD bank account, consider opening a Wise account to integrate with QBO. They are partnering with DBS to operate in Singapore. Then you will be able to transfer your balance easily between your SGD account and your existing account (UOB).

https://wise.prf.hn/l/64dl92k

I need it too. Hope Intuit is going to resolve this problem