We sell in 10 currencies and have one Stripe account with 3 currencies enabled (USD EUR and GBP).
Support from the Woocommerce sync plugin told me that the order currency will be sent to QB, but that I have to chose one account that the orders are registered as paid to. So we'd have to manually move this between the Stripe USD, EUR and GBP accounts. Is this the only way?
Also, we have orders that are 20% VAT, but also out of scope orders (shipped from outside the UK to customers outside the UK), zero rated export orders and intra-community orders. Is it possible for QB and the Woocomerce sync to determine this for every order (from Woocomerce data), or will it be necessary to manually edit every order to add the correct VAT status?
I'm here to share some insights with you about how QuickBooks handles this.
In QBO, as a third-party application, only one currency is allowed.
You may consider contacting Stripe support so they can provide you with the information if there are other ways you can move this currency between accounts.
I'll be right here if you have any other QBO concerns.
Well, the point is to not move between the accounts, as we settle in 3 currencies, into USD EUR and GBP bank accounts.
We could of course chose to convert charges and settle only in GBP, however Stripe charge a 2% fee to convert currencies.
Thanks for getting back to us and providing additional details about your concern, nick210.
Concerning the 2% fee, I still suggest reaching out to Stripe support to better assist you with this. One of their specialists will provide you with details about the charges.
The Community is always here if you have any other concerns.