cancel
Showing results for 
Search instead for 
Did you mean: 
nadine-ivanova-w
Level 1

How can I set up online payments in euro currency? It's not active for my clients paying in euro. The main currency is USD.

 
4 Comments 4
Fiat Lux - ASIA
Level 15

How can I set up online payments in euro currency? It's not active for my clients paying in euro. The main currency is USD.

QB Payment doesn't yet offer such feature. What kind of business do you run? You have to consider using a 3rd party merchant service or payment processor to accept credit cards internationally and integrate it with your QuickBooks.

nadine-ivanova-w
Level 1

How can I set up online payments in euro currency? It's not active for my clients paying in euro. The main currency is USD.

We're a start-up and have clients all over the world. Usually, we send invoices in usd. With some clients, we have contracts in euro.

Fiat Lux - ASIA
Level 15

How can I set up online payments in euro currency? It's not active for my clients paying in euro. The main currency is USD.

Explore this app as the first option

https://get.practiceignition.com/quickbooks

 

As the second option, you can use this 3rrd party merchant service

 

Comparison MF and QBO US.jpg

Angelyn_T
QuickBooks Team

How can I set up online payments in euro currency? It's not active for my clients paying in euro. The main currency is USD.

Hi there, @nadine-ivanova-w. Allow me to step into the thread and share with you some insights about setting up online payments in QuickBooks Online (QBO).

 

Yes, processing payments for foreign currency is not yet an option for now. The good news is, you can track euro payments manually. I'll guide you on how.

 

First, create a dummy account in the home currency to facilitate the movement between 2 different foreign currencies.

 

  1. Go to the Gear icon, then select Chart of Accounts
  2. Select New
  3. Under the Account Type column, select Cash and cash equivalent. Under the Detail Type column, pick Cash on hand. And under the Name column, type in Dummy Bank
  4. Before saving and closing, make sure that it is set to your home currency (for example Euro or whatever is your home currency).

 

Then, record the payment of the USD invoice.

 

  1. Go to the (+New icon, then select Receive Payment.
  2. Set the Deposit To to the Dummy Bank.
  3. Fill in the necessary information.
  4. Before saving the transaction, take note of the home currency (Euro or whatever is your home currency) amount displayed at the bottom right.

 

Once done, you need to transfer the amount from the Dummy Bank to the EUR bank account through bank transfer.

 

  1. Select Transfer from the (+New icon.
  2. Under the Transfer Funds From column, select Dummy Bank from the drop-down arrow.
  3. Under Transfer Funds To, choose the EUR Bank from the drop-down arrow.
  4. From the Currency column, select Euro/home currency from the drop-down arrow.
  5. Enter the amount.

 

For more tips about managing multi-currency transactions in QuickBooks Online, you can check out these articles:

 

 

Let me know if you have any other follow-up questions about online payments. I'll be right here to help. Have a good one!

Need to get in touch?

Contact us