Hi Pabz_L,

I did answer the questions first. Please read the answer again. THERE IS NO WAY IN QBO TO PROCESS FOREIGN CURRENCY TRANSACTIONS BY BATCHES. And it's disappointing. Period.

Then I shared quicker way to process VERY LARGE number of foreign currency transactions, still ONE by ONE. This second part of my answer is for other people (like me) who face the same issue, but with VERY LARGE number of foreign currency transactions. It helps save hours in this case.

I find it completely bonkers this isn't a feature - please change!! I'm wasting so much time...

This isn’t what I want you to feel, @georgethuk.

I see the importance of having this feature in QuickBooks Online (QBO) as this can save you a lot of time in your business.

Don’t worry though, our product team is always looking for great ideas from users, like yourself, when deciding how to enhance QuickBooks. While I can’t provide you with a specific time frame as to when this feature will roll out, I suggest checking our QuickBooks Blog page for reference. Here, you'll stay updated on the latest news and updates about QuickBooks.

In the meantime, I recommend looking for a third-party app that lets you process foreign currency transactions by batch. You can go to the Apps menu in your QBO account and look for an app from there.

In addition to this, you might want to check out these links below that you can use for reference in matching your transactions in the future:

• Categorise and match online bank transactions in QuickBooks Online
• Reconcile an account in QuickBooks Online

Let me know if there’s anything else I can help you in managing your transactions in QuickBooks. I’m always around ready to help you anytime. Have a good one!

Any update? thanks. 

Thanks for checking in with us, userdaniel.qbo.canad.

Currently, we don't have a specific time frame as to when the bulk-add foreign currency feature added in QuickBooks Online (QBO). Rest assured, our engineering team is aware of this feature request. You'll want to look for a third-party application that lets you import foreign currency transactions. Just go to Apps on the left menu and search for an app from there. If you have any concerns or inquiries about the integration of the app to your Online account, just contact the app provider technical support. 

You can visit these blogs for any upcoming QuickBooks updates and enhancements:

• QuickBooks Resource Center
• The QuickBooks Blog

The Community will always have your back if you need a hand with importing your bank transactions or any QBO related. Assistance is just one post away. Take care always.

I am also waiting for this feature to be developed...

Here's a question -- what's the purpose of QB asking for a currency conversion rate? We're not converting anything, we're dealing with foreign currency transactions. It's a real pain to expand each and every transaction only to click the ADD button. What a terrible system.

Thanks for joining this thread, @sawback. I'll gladly provide some info about the purpose of currency conversion rate in QuickBooks Online.

When you turn on multicurrency, QuickBooks uses exchange rates to get the home currency values of your foreign currency transactions. QuickBooks uses exchange rates to show how much a foreign currency transaction is in your home currency value.

QuickBooks also uses exchange rates for your reports. This makes sure you have a better view of how your business is doing.

When you enter foreign currency transactions, QuickBooks shows 2 different amounts:

• Total foreign currency amount. QuickBooks multiplies the product or service rate by the exchange rate.
• Total home currency amount. QuickBooks multiplies the total foreign currency amount by the exchange rate.

I'm also adding this resource to guide you on how to enter your own exchange rates in QuickBooks Online.

Feel free to get back to this thread if you have clarifications with the multi-currency features in QuickBooks. I'll make sure to answer them for you. Have a pleasant day.

It has been more than 2 years since this issue was reported and clearly lots of people are frustrated, including myself. All we have been receiving from QBO is the standard B/S. Why? do you think you own the market right now that you do not care about your existing customers because they are not going away? Next time before you increase your fees, think about the things you promised but yet delivered.

I have over 20 customers and the minute I found another solution that is comparable I will switch all of them!

Hello here - I get the same problem even when looking to transfer from/to 2 accounts using THE SAME foreign currency. I.e. Most of our accounts are CAD, but the two accounts in the bulk rule are USD. Still, I have to manually assign a conversion rate for each transaction. WHAT GIVES?

Am I missing something here? 

I appreciate you coming here for help, mlatzel.

Bulk adding foreign currency feature added in QuickBooks Online (QBO) is still unavailable. Your thoughts about this feature are being noted and while we're changing and evolving based largely on the suggestions of users like yourself, I want you to get in the loop about the latest news and product developments in QuickBooks. That said, I encourage you to visit our Firm of the future site.

For more information about managing Multicurrency, check this article: How to turn on Multicurrency and add or delete currencies.

To give you more insights with multi-currency in QuickBooks, please refer to these links:

• About Multi-currency.
• Learn about Multicurrency in QuickBooks Online
  
  

I'm always here to help if you have any other questions while working with currencies. Stay safe and have a great rest of the day!

Over two-yeara later and still an issue! come on!

Hello Cryptanire, Thanks for commenting on this thread. Not all requests are something we can implement we do see that this is something that is impacting the use of QB for users with a large amount of multi-currency transactions and we ask you to add a feedback request in the product which goes to our product engineers, the more requests we can get the better. Thank you

Hi I'd like to add to the list of users who are incredibly frustrated by this. 

The requirement to click into every transaction, just to confirm an FX rate which is automatically populated (and which I'd almost never change), is INSANE. 

This creates hours and hours of needless work and instantly makes Quickbooks very poor value-for-money.

What's baffling is, it didn't used to be this way. Some developer at QBO threw this in as a mandatory feature just to piss us off.

3 years later and no resolution. May need to consider using a different software now....

Yes agreed, this is absolutely ridiculous. What is the other solution you have found? Myself and all my associates are leaving QB because of this ridiculous limitation. Honestly QB, this should be an Alpha feature. The fact you don't have it is utterly ridiculous

Imagine being me that have 21K transactions and need to be done 1 by 1.
I had the same problem in 2019 only 4 k transactions now it's been 3 years. Still the same problem and no feature enhancement from the "Engineering Team". How frustrating.

Any updates??? or workaround?

nope!! and still super annoying!! 

Let me add to this frustration. All of our contractors are international and it takes ages to enter each one. Since the currency is on the bill as a data point, why on earth is it not just available on the batch options? It seems like a pretty easy fix. Especially since each time I change the currency during payment, it asks if I want to do all or just one. So clearly there is an already proven solution. Unfortunately, I spent most of the day figuring out the batch transaction, mapping etc only to find it is completely useless. 

Did anyone find an add-on app that they recommend? This is insane. 

@LillyMarkowitz 

I have recommended an importer tool in earlier posts. You should explore it

https://transactionpro.grsm.io/qbo

Hi there!! We need bulk add of foreign currency transactions very much. Please, update this feature to save our time. It is really needed.