how do you set up different products with different currencies?

supplier · ‎November 16, 2022

Hi,

I have several products that I sell, let's say product A and product B. Product A and B are very similar with similar prices. Both products are sold within the UK to another company that resells them. Product A is resold within the UK, so I sell product A in GBP. Product B is resold in Europe, so the British company that resells it wants the invoice in EUR. How do I do that?

AlcaeusF · ‎November 16, 2022

Hello @supplier,

Welcome to the Community. I can assist you with your concern about the invoices in QuickBooks Online.

Your products and services on an invoice will automatically follow the customer's currency. The option to have two different currencies on a single transaction is unavailable.

If you set up a customer with Euro, the system will show the same currency for all your products. The only workaround is to create two profiles for the British company.

You can separate the invoice for the products you sell in GBP and Euro. Here are some screenshots for your visual reference about how the currency affects an invoice:

Additionally, we've prepared answers to some frequently asked questions about using multi-currency in QuickBooks Online. For your additional reference, please check out this article: Multi-currency FAQ.

Comment down below if you have more questions or concerns about the process. I'd be glad to help you out.

View solution in original post

AlcaeusF · ‎November 16, 2022

Hello @supplier,

Welcome to the Community. I can assist you with your concern about the invoices in QuickBooks Online.

Your products and services on an invoice will automatically follow the customer's currency. The option to have two different currencies on a single transaction is unavailable.

If you set up a customer with Euro, the system will show the same currency for all your products. The only workaround is to create two profiles for the British company.

You can separate the invoice for the products you sell in GBP and Euro. Here are some screenshots for your visual reference about how the currency affects an invoice:

Additionally, we've prepared answers to some frequently asked questions about using multi-currency in QuickBooks Online. For your additional reference, please check out this article: Multi-currency FAQ.

Comment down below if you have more questions or concerns about the process. I'd be glad to help you out.

supplier · ‎November 16, 2022

Thanks, my problem was that I originally set up the product B, stating that B cost is 10, so it assumed that it was 10 GBP, therefore, if left blank, no price set for the product, I set it to anything that I want, and it would be euros, in the invoice, as per customer currency.

CharleneMaeF · ‎November 17, 2022

Yes, this is correct, supplier.

QuickBooks supports multiple currencies to help you do business with foreign suppliers, customers, or employees. I'd recommend checking out these articles for more details:

You can also check out our list of supported currencies to ensure you can track all the transactions accurately.

Please keep us posted if you need additional assistance in tracking your transactions. We're always here to help you out.

Fiat Lux - ASIA · ‎November 17, 2022

@supplier

Consider having a 3rd party inventory management app with B2B portal to integrate with your QBO. You will manage products in multi-currency price lists and deal with your resellers easily.

supplier · ‎November 17, 2022

which third party software would you recommend?

Fiat Lux - ASIA · ‎November 18, 2022

One of the apps costs $67/month for 3 users. Send me a private message and I'll introduce you to the app developer later.

turnerfib · ‎January 30, 2024

Can you help me with this too? Need capability to have products/inventory costs stored in different currencies, which QB doesn't allow yet. Don't want a full blown, complictaed inventory management system...

4Gal · ‎January 30, 2024

@turnerfib

Explore this one

https://go.zoho.com/kY9

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how do you set up different products with different currencies?