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The David House
Level 1

Inaccurate currency exchange due to Quickbboks only using six decimal points leading to incorrect balances.

Hi All, 

 

I am reconciling my HUF bank account in Quickbooks where the base currency is GBP. Because there are so many Florints to the Pound (roughly 450) the exchange rate I have in Quickbooks is 0.002235. As quickbooks only calculates the rate up to six decimal points and the bank uses more, (I would guess at least 10) the transfers are always inaccurate. Is there a way to manually input values without using Quickbooks to calculate the exchange rates? I can change the exchange rate in Quickbooks as the rate changes throughout my financial year but as mentioned above this is not accurate enough. thanks for your help.

1 REPLY 1
GeorgiaC
QuickBooks Team

Inaccurate currency exchange due to Quickbboks only using six decimal points leading to incorrect balances.

Hi The David House, thanks for joining the Community.

 

It is only possible to round to the nearest 6 dp in QuickBooks Online. Are the transactions downloaded from the HUF account showing a different amount in QuickBooks to that which is showing in the online bank? 

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