It can be challenging when things don't work as expected, especially when it involves managing part payments in bookkeeping, @PreciousMM. Let me help you resolve this matter.
The issue you're encountering with the EUR account in QuickBooks Online may be due to various factors, such as system settings, permissions, or specific configurations related to multi-currency settings. However, you have the ability to receive and make payments for invoices or bills in a foreign currency.
Here's how:
- Sign in to your QuickBooks Online account.
- Click on the Gear icon, and select Chart of Accounts.
- Select New
- Under Account Type column, select Cash and cash equivalent. Under Detail Type column, select Cash on hand. And under Name column, type in Dummy Bank.
- Before saving and closing, make sure that it is in the home currency (which is UK in this case)
You can check out this article for more information: Receiving and making payment for a foreign invoice/ bill with a foreign currency.
Please note that while this article originates from Singapore, its content is also applicable in the United Kingdom.
Moreover, you can get answers to frequently asked questions about using multi-currency in QuickBooks Online: Multi-currency FAQ.
Please feel free to reach out with any further questions or concerns regarding this issue. I'm here to assist you and ensure you find a resolution.
