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Hi All, I recently enabled multi-currency in QBO. How do I assign a foreign currency to existing Vendors? I know how to create a new vendor and assign them a foreign currency, but I cannot find out how to do it for my existing vendors? I've made sure the currency is added to my Currency List, so that's not the issue.
I tried to merge the vendors, that didn't work either.
It's nice to have you in the Community, @Sc0. I'd be delighted to assist you in adding a foreign currency to the existing vendors in QuickBooks Online.
In the meantime, you can’t change the currency of a vendor once you’ve added transactions with them. As a workaround, I’d suggest making the existing vendor profile inactive and adding the vendor again with their foreign currency. Here’s how:
You can read through this article for more information about adding vendors with foreign currency: Add a vendor with a foreign currency in QuickBooks Online.
Additionally, I'll share with you these resources that may come in handy:
I’m always ready to assist you if you have any other questions or concerns about managing your vendors in QBO. Tag me in your reply and I’ll sprint back into action. Have a good one and keep safe.
Ok, thanks for the info.
Hi there, Sc0.
You're very much welcome! Anyway, if there's anything else that you need help with, let us know so we can get back to you as soon as possible. Please know, that we're always here to further assist you. Stay safe always!
There are instance where same vendor paid in different currencies. For example, Airline company charge us with the local currency from whichever country we are flying from. How do we add multiple currencies for single vendor in this case?
It's good that you're interested in adding multiple currencies to a single vendor, Zale.
In QuickBooks, we cannot associate one vendor profile with multiple currencies. However, you can create a separate profile for the same vendor and assign the appropriate currency to each profile. Here's how:
Another way you might consider is finding a third-party application that can assist in managing a single vendor profile across multiple currencies.
If you have any further questions or concerns regarding making payments with a vendor with different currencies, please don't hesitate to reach out. I'm here to assist you further.
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