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Level 3

How do I bulk-add foreign currency transactions?

When I'm in a dollar account, the option to select and bulk add transactions is not there.  I can't even add individual transactions unless I first click on the transaction. Otherwise it says 'enter the exchange rate'. But I don't enter the rate - Quickbooks fetches the rate itself.

 

I have thousands of transactions in US dollars so it's very obviously not practical for me to go into every one, click and then add.  I thought I had found a way around this by creating a rule to auto-add these transactions, but to my horror I find that the exchange rate is now pulled in as 1 GBP to 1 USD for these 'rule' added transactions.

 

Please tell me there's a way to bulk import these dollar transactions while keeping the exchange rate calculation, and please tell me how to do it. 

 

Thanks!

26 REPLIES 26
Highlighted
Moderator

How do I bulk-add foreign currency transactions?

Thanks for coming in with us today, delicado.

 

Transactions with the same currency as your home currency will automatically go through the bank.

 

However, the system will prompt an error if you're adding transactions that are different from your home currency. This is the reason why the Accept selected option or bulk add transaction is not there.

 

You'll need to manually expand each transaction to confirm the exchange rate to populate, then add them.

 

Learn more about the multi-currency feature in QuickBooks Online through this link: Turn on and use multicurrency.

 

If you have more questions, just let me know. I'm always happy to help.

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Level 6

How do I bulk-add foreign currency transactions?

consider 3rd party data importing tool

https://transactionpro.grsm.io/qbo

 

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Level 3

How do I bulk-add foreign currency transactions?

Hi.

- However, the system will prompt an error if you're adding transactions that are different from your home currency. This is the reason why the Accept selected option or bulk add transaction is not there.

 

My question is why will the system prompt an error? If I can click them individually and add them successfully with the exchange rate, why would there be an error if I do it in bulk?

Could you please log a feature request 'allow bulk import of transactions'. I appreciate it might take a developer a day or two to make it work, but it would save me a day or two every few months, and I'm one of (I assume) millions of customers that you have.

 

I'm consistently astounded at how QB online fails with *every single* thing that I need it to do.

 

 

 

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Level 3

How do I bulk-add foreign currency transactions?

Thanks for this Plung.  $149 for a year isn't terrible if it works. Isn't it pathetic that this artificial market is created by the core software fundamentally not doing lots of basic things!

Highlighted
QuickBooks Team

How do I bulk-add foreign currency transactions?

Hi delicado

 

We will certainly raise a product enhancement request for you and we encourage you to leave feedback from within the product.

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Level 3

How do I bulk-add foreign currency transactions?

Thanks! Sorry for the grumpiness - it's just how using QB makes me feel; nothing personal!

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Level 1

How do I bulk-add foreign currency transactions?

This still hasn't been added. It would save me so much time allowing auto import and it would guarantee the exchange rate is right for that day. Pls look at getting this feature in.

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Level 1

How do I bulk-add foreign currency transactions?

I need the same functionality please. 

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Level 2

How do I bulk-add foreign currency transactions?

i agree this silly. I came here looking for an answer trying to import a year worth of USD CC transactions. Luckily I don't have that many. Still that is annoying. Previously I never really cared of the exchange rate on USD transactions as they are billed and settled in the same currency.

Highlighted
QuickBooks Team

How do I bulk-add foreign currency transactions?

This is not what we want you to feel, @slavka012 

 

As of now, we don't have a specific time frame as to when this update will roll out. Rest assured our engineering team is aware of this feature request. They are always working to improve our products to suit the needs of our customers. 

 

In the meantime, you'll want to consider looking for a third-party app that lets you import foreign currency transactions. You can do so by going to the Apps menu in your QuickBooks Online (QBO) account. Then search for an app from there.

 

Also, I encourage checking our QuickBooks Blog page to learn about the latest news and updates in QuickBooks.

 

In case you have other concerns or questions with your QBO account, you can always get back to me. I'm more than happy to help you. Take care and keep safe!

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Level 14

How do I bulk-add foreign currency transactions?

@slavka012 

Utilize the trial period of a 3rd party tool to import the data as CC Charges or CC Credits.

https://transactionpro.grsm.io/qbo

 

The template should be like this for CC Charges

RefNumberCreditCardPayeeTxnDateLocationAddressLine1AddressLine2AddressLine3AddressLine4AddressCityAddressStateAddressPostalCodeAddressCountryPrivateNoteCurrencyExchangeRateExpenseAccountExpenseDescExpenseAmountExpenseBillableStatusExpenseBillableEntityExpenseClassLineItemLineDescLineQtyLineUnitPriceLineAmountLineBillableStatusLineBillableEntityLineClass
101Visa AccountStarbucks01/10/2020            General SuppliesMiscellaneous12.51   Supplies  112   
102AmexCostco01/10/2020            General SuppliesOffice Supplies125           
103MasterCardStaples, Inc.01/10/2020            Office SuppliesOffice Supplies25           

 

CC Credits

RefNumberCreditCardPayeeTxnDateLocationAddressLine1AddressLine2AddressLine3AddressLine4AddressCityAddressStateAddressPostalCodeAddressCountryPrivateNoteCurrencyExchangeRateExpenseAccountExpenseDescExpenseAmountExpenseBillableStatusExpenseBillableEntityExpenseClassLineItemLineDescLineQtyLineUnitPriceLineAmountLineBillableStatusLineBillableEntityLineClass
CR103MasterCardStaples, Inc.01/10/2020            Office SuppliesOffice Supplies5           

 

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Level 1

How do I bulk-add foreign currency transactions?

Seriously, QB? Wow. You're asking me to click into every single transaction for absolutely no reason other than to see that the currency is out of country. I KNOW THAT!

AB.SO.LUTE.LY ridiculous. You don't even seem to flinch to tell us that we have to click into each transaction. Like we are unreasonable. It. is. 2020. 

I have hundreds of transactions that i have to manually do 2 clicks for. And pay attention so I don't hit the wrong thing. 

PLEASE FIX! This is not an enhancement feature. IT"S A BUG! 

 

 

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Level 1

How do I bulk-add foreign currency transactions?

How has this still not been implemented?

Is this feature actually ever going to happen?

Highlighted
QuickBooks Team

How do I bulk-add foreign currency transactions?

Hello mattleighton77😊 At the moment there are no plans to change the foreign currency features to have a bulk import option we do take on board that it has been requested in this thread and that is not to say it will not be added in future. We will introduce any future changes here 

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Level 1

How do I bulk-add foreign currency transactions?

This really has to be fixed.... I have more than 5000 foreign currency transactions to click on one by one for today. With E-commerce increasing number of transactions it will be CRUCIAL for QBO. Hope this help!

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Level 2

How do I bulk-add foreign currency transactions?

Sorry, what is the procedure to follow here when I have the same problem as delicado? Do I delete the foreign currency account from the automatic sync sequence and instead import transactions using https://www.transactionpro.com/products/quickbooks-online/?gspk=YW5keWZlcndhcmk4MTY1&gsxid=tK8odmDhG...?

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Level 14

How do I bulk-add foreign currency transactions?

@robustianotubio 

Which transaction types do you need to import? Have you register the trial period of TPImporter?

https://transactionpro.grsm.io/qbo

 

Every transaction type has its own template to prepare.

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Level 2

How do I bulk-add foreign currency transactions?

I just need to book expenses in EUR, done in a EUR account but my official currency is GBP. No, I have not yet signed up to transactionpro, just want to check what the procedure entails before I do. 

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Level 14

How do I bulk-add foreign currency transactions?

@robustianotubio 

Prepare the the data with the following template

 

Bills

RefNumberAPAccountVendorPrintOnCheckNameTxnDateDueDateSalesTermLocationAddressLine1AddressLine2AddressLine3AddressLine4AddressCityAddressStateAddressPostalCodeAddressCountryPrivateNoteCurrencyExchangeRateExpenseAccountExpenseDescExpenseAmountExpenseBillableStatusExpenseBillableEntityExpenseClassLineItemLineDescLineQtyLineUnitPriceLineAmountLineBillableStatusLineBillableEntityLineClass
101 Staples 01/10/202015/11/2020  100 Houston StreetSuite 2000  San DiegoCA12345 Internal Use  Office SuppliesFor Anne25.1           
101 Staples 01/10/202015/11/2020  100 Houston StreetSuite 2000  San DiegoCA12345 Internal Use  TelephonePhone Cards50.25           
185 Green's Taxi Service 01/10/2020 Net 30 1 Main Street   San DiegoCA12345    Transportation 125.13           

 

Bill Payments

RefNumberAPAccountVendorTxnDateBank or CC AccountPrivateNoteCurrencyExchangeRateToBePrintedBillApplyToLineAmount
2001 Staples01/11/2020CheckingBill Payment  N101375.53
3454 Green's Taxi Service01/11/2020CheckingBill Payment  N185125.13
321901 Federal Express01/11/2020CheckingBill Payment  N201

264.07

 

 

Then you are able to import the data by TPImporter

 

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Level 2

How do I bulk-add foreign currency transactions?

But do I need to eliminate the bank account first from auto sync? and then try and import manually a csv that i download from transactionpro? 

 


@Fiat Lux - ASIA wrote:

@robustianotubio 

Prepare the the data with the following template

 

Bills

RefNumberAPAccountVendorPrintOnCheckNameTxnDateDueDateSalesTermLocationAddressLine1AddressLine2AddressLine3AddressLine4AddressCityAddressStateAddressPostalCodeAddressCountryPrivateNoteCurrencyExchangeRateExpenseAccountExpenseDescExpenseAmountExpenseBillableStatusExpenseBillableEntityExpenseClassLineItemLineDescLineQtyLineUnitPriceLineAmountLineBillableStatusLineBillableEntityLineClass
101 Staples 01/10/202015/11/2020  100 Houston StreetSuite 2000  San DiegoCA12345 Internal Use  Office SuppliesFor Anne25.1           
101 Staples 01/10/202015/11/2020  100 Houston StreetSuite 2000  San DiegoCA12345 Internal Use  TelephonePhone Cards50.25           
185 Green's Taxi Service 01/10/2020 Net 30 1 Main Street   San DiegoCA12345    Transportation 125.13           

 

Bill Payments

RefNumberAPAccountVendorTxnDateBank or CC AccountPrivateNoteCurrencyExchangeRateToBePrintedBillApplyToLineAmount
2001 Staples01/11/2020CheckingBill Payment  N101375.53
3454 Green's Taxi Service01/11/2020CheckingBill Payment  N185125.13
321901 Federal Express01/11/2020CheckingBill Payment  N201

264.07

 

 

Then you are able to import the data by TPImporter

 


 

Highlighted
Level 1

How do I bulk-add foreign currency transactions?

Yes, that's the solution I found. Disconnect automatic sync and manually import transactions in cv format, and categorize them. You'll need to categorize them one by one because of currency conversion.

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Level 2

How do I bulk-add foreign currency transactions?

@CPA10 

If the account is synced automatically with your bank provider, you have to accept each and every one of the transactions after confirming the FX rate. 

Instead if you disconnect the auto-sync feature and you upload a csv file you also have to confirm each and every one of the transactions by going into them and confirming the FX.

My question to you is then, what is the point of going for the second option when you still have to confirm transactions individually and now you have to manually upload the csv file on top? 



@CPA10 wrote:

Yes, that's the solution I found. Disconnect automatic sync and manually import transactions in cv format, and categorize them. You'll need to categorize them one by one because of currency conversion.


 

Highlighted
Level 1

How do I bulk-add foreign currency transactions?

Going back to the initial question from delicado you were referring to (no bulk categorization for foreign currency transaction?). Yes, it's clear QBO do not offer this functionality. Foreign currency transactions need to be categorized one by one to allow currency conversion no matter how you get transactions in QBO. I share his disappointment and frustration.

 

Now since I had 5000 plus foreign currency transactions to categorize one by one, I founded quicker to do if you already map them to the right category in Excel and upload them in a cv format into QBO. Then you'll need two clics per transaction to add them almost mechanically. You can open up to four QBO window at the same time. 

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QuickBooks Team

How do I bulk-add foreign currency transactions?

Allow me to provide some insights about CSV file, @robustianotubio.

 

When you connect your bank to QuickBooks Online, it automatically downloads and categorizes your bank and credit card transactions. It also enters the details for you so you don't have to enter transactions manually.

 

However, if you cannot locate your bank in QuickBooks Online or if you need to download older banking transactions, you’ll need to import your banking transactions manually using a QuickBooks Online file or CSV file. 

 

 You can check out this article for more information about the use of CSV files when manually importing bank transactions in QuickBooks Online: Import bank transactions using CSV file.

In case you have other concerns or questions, you can always get back to me. I am always here to help. Take care.