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Level 5

How to create a "USD Discount/Rebate from Suppliers"

The base currency of may co. is HKD. May I know how to create a "USD Discount/Rebate from Suppliers"?

TIA

Solved
Best answer January 15, 2019

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QuickBooks Team

How to create a "USD Discount/Rebate from Suppliers"

Thanks for the additional details and the screenshot, BenTam.

 

If the Multi-currency feature is turned on, QuickBooks will change the currencies of the transactions to your home currency when you import them. What you'll want to do instead is enter the transactions manually in QuickBooks. Or, you can find a third-party software that can import transactions with different currencies. You can find one in the QuickBooks Desktop Marketplace.

 

If you have other questions in mind, please go back to this thread.

View solution in original post

3 Comments
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QuickBooks Team

How to create a "USD Discount/Rebate from Suppliers"

Hi BenTam,

 

You can create an account for your rebates and discounts. However, it will automatically use your home currency and we're unable to assign a different currency to it.

 

To create an account:

  1. From the List menu, choose Chart of Accounts.
  2. Press the Ctrl+N keys on your keyboard.
  3. Select New.
  4. Select the account category and click Next.
  5. Name the account as "Discount/Rebate from US Suppliers" or anything you like.
  6. Click Save & Close.

You can select this account when you record rebates or discounts from your US Suppliers.

 

Please get back to us if you have other questions.

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Level 5

How to create a "USD Discount/Rebate from Suppliers"

Dear Jess,

Thanks for your reply. This problem is found in importing IIF files. I find that "Sales" and "Income" accounts can't change currency.

 

In the IIF file below, "Nextect Incorp" is an US company. After importing the following IIF file, the currency of the invoice changes into HKD. 

 

Any solution for that?

 

image.png

 

Highlighted
QuickBooks Team

How to create a "USD Discount/Rebate from Suppliers"

Thanks for the additional details and the screenshot, BenTam.

 

If the Multi-currency feature is turned on, QuickBooks will change the currencies of the transactions to your home currency when you import them. What you'll want to do instead is enter the transactions manually in QuickBooks. Or, you can find a third-party software that can import transactions with different currencies. You can find one in the QuickBooks Desktop Marketplace.

 

If you have other questions in mind, please go back to this thread.

View solution in original post

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