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alex17
Level 3

Stock reports - currency rates

I'm having difficulty with the 'Product/Service QuickReport' which shows the history of stock movements.

I have a product that has been bought and sold in USD (home currency GBP) but the report is showing mixed currencies in the sections on the report as follows:

 QTYRateAmountBalanceForiegn. Amount
Stock Asset BillQTYUSDGBPGBPUSD
Stock Asset InvoiceQTYGBPGBPGBPGBP
      
Sale of productQTYUSDGBPGBPUSD
      
COGSQTYGBPGBPGBPGBP

Is there something I can do to ensure that the rate is converted to GBP on all lines?  Also the  COGS amount and stock asset invoice is showing as GBP under the foreign amount heading - I think this must be an error.

 

Many thanks

Alex

Solved
Best answer July 28, 2020

Accepted Solutions
Angelyn_T
QuickBooks Team

Stock reports - currency rates

How was your day, @alex17?

 

I'm here to share some information about the Product/Service QuickReport in QuickBooks Online (QBO).

 

If your transaction is on a different currency, the amount under the Rate and Foreign Amount columns follow the currency of your vendor/customer (USD). On the other hand, all columns will show as GBP if the vendor/customer is in the GBP currency.

 

I've added these screenshots for your visual reference.

 

As of now, this is how QuickBooks works for the Product/Service QuickReport. In case you need additional references when running and customising your reports in the future, feel free to read this article.

 

Also, this article detailed the steps on how to manage products/services in QBO, open this for your future reference.

 

You can always visit us here if you have any other about QuickBooks or reports. I'm here to help. Have an awesome day and keep safe, @alex17!

View solution in original post

1 REPLY 1
Angelyn_T
QuickBooks Team

Stock reports - currency rates

How was your day, @alex17?

 

I'm here to share some information about the Product/Service QuickReport in QuickBooks Online (QBO).

 

If your transaction is on a different currency, the amount under the Rate and Foreign Amount columns follow the currency of your vendor/customer (USD). On the other hand, all columns will show as GBP if the vendor/customer is in the GBP currency.

 

I've added these screenshots for your visual reference.

 

As of now, this is how QuickBooks works for the Product/Service QuickReport. In case you need additional references when running and customising your reports in the future, feel free to read this article.

 

Also, this article detailed the steps on how to manage products/services in QBO, open this for your future reference.

 

You can always visit us here if you have any other about QuickBooks or reports. I'm here to help. Have an awesome day and keep safe, @alex17!

View solution in original post

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