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aj43
Level 1

How do I force sales receipts to pull the current exchange rate for a multi-currency transaction?

Our inventory system pushes sales receipts into quickbooks in both USD (default currency) and GBP. The GBP sales receipts show a 1:1 exchange rate which is incorrect (muticurrency settings show the correct exchange rate but QBO ignores it for some reason). How can I force QBO to use the actual exchange rate instead of a 1:1?
4 Comments 4
aj43
Level 1

How do I force sales receipts to pull the current exchange rate for a multi-currency transaction?

Screen shots for reference: 

 

screenshot-c71.qbo.intuit.com-2020.12.15-09_04_20 (2).pngscreenshot-c71.qbo.intuit.com-2020.12.15-09_04_20 (1).png

MaryLandT
Moderator

How do I force sales receipts to pull the current exchange rate for a multi-currency transaction?

I want to make sure you get the correct currency rate when creating a transaction, aj43.

 

Let's perform some troubleshooting steps to get the exact GBP rate. The currency could be damage, hence not letting you see the exact rate.

 

You can delete and add again the said currency to isolate this behavior. Let me show you how:

 

  1. Go to Settings ⚙️, then select Currencies.
  2. Click the small arrow ▼ icon in the Action column and then select Delete.
  3. Select Yes to confirm the deletion.

Once done, here's how you can add to the currencies you use.

 

  1. Go to Settings ⚙️.
  2. Click Currencies.
  3. Select Add currency.
  4. Choose the new from the Add Currency ▼ drop-down menu.
  5. Click Add.

After adding the GBP currency, you can clear the browser's cache and cookies. It helps refresh website preferences that might be causing issues when you use QuickBooks.

 

If you get the same results, you can manually override the amount to have the correct calculation on your sales form.

 

I'm adding this link to learn the effects of this feature in QuickBooks Online: About Multicurrency.

 

Stay in touch with me by commenting below if you need additional information. I'm always right here to help you get the correct currency rate on your transactions.

aj43
Level 1

How do I force sales receipts to pull the current exchange rate for a multi-currency transaction?

I attempted to follow your instructions but I am unable to proceed since I have transactions that use this currency.

 

screenshot-c71.qbo.intuit.com-2020.12.15-10_41_36.png

ZackE
Moderator

How do I force sales receipts to pull the current exchange rate for a multi-currency transaction?

Thanks for following up with the Community, aj43.
 

You can remove a currency once all transactions and customers/vendors that use it are deleted.
 

Here's how to delete a transaction:

  1. In your left navigation bar, go to Sales, then Customers.
  2. Locate a customer you're looking for and access their profile.
  3. Find the transaction.
  4. Under your ACTION column, use the ▼ drop-down arrow, then choose Delete.


For customers and vendors, you can make them inactive. I've included a couple resources that go over how this is done:

 

Once nothing's using your currency, you can continue with MaryLandT's steps to delete and re-add it. If you still don't see an accurate exchange rate on your sales receipts, you'll want to proceed with the other troubleshooting processes included in her post.
 

Another thing you can try is manually editing your currency exchange rate. This can be done by using your Gear (⚙️) icon, going to Currencies, clicking Edit currency exchange, then selecting Your rate.


In the event your rate continues displaying incorrectly on sales forms, you'll want to contact our Customer Care Team. They'll be able to pull up your account in a secure environment, conduct further research, and create an investigation ticket if necessary.
 

They can be reached while you're signed in.
 

Here's how:

  1. Click the Help (?) icon.
  2. Press Contact Us.
  3. Enter a description of your situation in the What can we help you with? field, then hit Let's talk.
  4. You'll be presented with a few options for connecting with Intuit. Select Start messaging or Get a call.


Be sure to review their support hours so you'll know when agents are available.
 

I'll be here to help if there's any questions. Have a lovely day!

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