How do I change to Multicurrency in Self Employed quicbooks?

Thank you for your answer John

I must say that this is mayor flaw in the SelfEmployed  version, any news of adding the option of multicurrency? I will reconsider staying with the services, which is a shame as I really like it. 

Many thanks

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@John C wrote:

Hi Cotton2

 

You are unable to change the currency in the self employed product, the currency is set to GBP.

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Hi Cotton2

There are no plans to add a multi-currency option to the self employed product.

Our products are evolving constantly and to assist us with your requirements, and hopefully have them implemented in the future, we encourage you to leave feedback from within the product.

I agree that this is a major flaw.  Which product does allow this?

Hi AJP17

The products that offer multi-currency are Essentials and Plus.

Hi John,

I really like the auto-mileage tracking and auto-receipt parsing features of the Self Employed version. However,  I also need multi-currency. Which version do I need for all of these features?

Thanks!

Thank for reaching out to us, cad_ai.

The multi-currency feature is only available in the regular version of QuickBooks Online (QBO). While auto-mileage tracking and auto-receipt parsing are supported in Self-Employed (QBSE).

You can check out our website for detailed comparison of products: https://quickbooks.intuit.com/uk/accounting-software/.

Just choose either the Accounting & VAT (Simple Start, Essentials, and Plus) or Self Assessment tab (QBSE).

Let me share this article to know more about the Multicurrency feature in QBO.

Keep me posted if you have further questions. I'll be here to help. Wishing you a good one.

Hi Jane,

Thanks for your response. I'm more wondering if the QuickBooks Online version contains features such as auto-scanning of receipts (i.e. it parses out the amounts, vendor name, date, etc) AND automatically tracks miles. The website is unclear and I've tried the QBO app and it doesn't seem to auto-scan receipts. However, I'm unsure if I had the right version or not.

Thanks,

Garry

It's good to see you back, cad_ai. Let me get the help you need in choosing the right version for you.

In QuickBooks Online UK version, we have a feature that will allow you to snap & store receipts. You can take a snap of receipts through the app and attach them to expenses on the go so you never lose a receipt again. However, the option to track miles is only available in QuickBooks Self-Employed.

To help you decide on what's the right version your business needs, you can check out below articles:

• QuickBooks Online Tutorial
• Recorded Webinars
• QuickBooks Online UK Upcoming Features and Releases

You can always get back to me if you have any other questions. I'd be more than happy to help.

Hi 

I am also finding I now need Multi-currency for a client who wants to pay in euros. 

I was told that it is available on the simple account, but looking at the thread, it seems that's not the case.

I'm self-employed, and that account which I'm on or the simple start for sole traders are the best, but if neither do offer multi-currency I may have to leave quick books, which is a shame. Its been great using the service, but as you also have to download everything and start again when upgrading it seems complicated and not guaranteed to do all we need. 

I'll keep an eye out for it changes but will look around at other solutions.

Thank you, and any advice around this would be great to hear.

Hi eleni kyriacou, thanks for joining this thread - we're sorry for any misinformation provided to you previously. It's correct that multicurrency is only available on our higher plans including QB Online Essentials, Plus, and Advanced. If you're using QB Simple Start, you can upgrade without losing any data; however, switching from QuickBooks Self-Employed to QBO would require exporting and importing data. :)

@eleni kyriacou 

Sign up for a Wise Business account and connect as the bank feed as a workaround. You can send a payment request in EUR on Wise. When your clients pay for it, you can convert it to your wallet in GBP to sync with QBSE.

https://wise.prf.hn/l/64dl92k

PayPal for business also allows multi-currency invoicing.