How do I set up a bank transfer for a Canadian client to pay my USA based business in $US?

As I know QB Payment doesn't support this. You need a 3rd party solution to integrate with QBO. Are you running a B2B or B2C company?

It's a B2B company.  I provide consulting services.  So Quickbooks doesn't offer any kind of solution to accept payments outside of credit cards and paypal, which both charge 2.9% fees?

It's a pleasure to have you in the Community today.

In QuickBooks Online (QBO), we have a feature called Multicurrency. This option allows you to pay and get paid in the foreign currencies of customers, vendors, or bank accounts that don't use your home currency. Once enabled, you can add transactions in another currency, and QBO handles all currency conversions automatically. However, you'll want to note that once the Multicurrency is active, there isn't a way to turn it off. I'll gladly write the steps below to get you going:

1. Access your QuickBooks Online company.
2. On the top-right corner, click the Gear icon and then select Account and settings.
3. Go to the Advanced tab, and then in the Currency section, select Edit ✎.
4. From the Home Currency ▼ dropdown, select your currency.
5. Select the Multicurrency checkbox and confirm that you understand that you can't undo this option.
6. Click the Save button.

If you've already set your Canada-based client and their currency to Canadian in your QBO company, then it's easier to do a bank transfer to your USA-based business and pay you in US dollars. Also, after enabling the option, you'll want to create account that uses a foreign currency in your Chart of accounts. This way, you can add funds to that account and then later on do a bank transfer from that Canadian account to your US bank account. Here's how:

1. Go to Settings .
2. Select Chart of accounts (Take me there) then New.
3. Choose Select category then select Bank and credit cards.
4. Fill out the Category name and select Account type from the menu.
5. Select Currency from the dropdown menu.
6. Fill out Starting date and opening balance when you’ll start tracking business transactions. Enter the amount you had in the account on that day.
7. Fill out Description field. Select Save.

For more details, refer to this article: Set up and use multicurrency in QuickBooks Online.

Once everything is ready, proceed to do the bank transfer. See this page for further guidelines: Record and make bank deposits in QuickBooks Online.

In addition, you may want to ensure your number stays accurate inside QBO. You can visit this page to learn how to generate business report inside the program: Run reports in QuickBooks Online.

As always, feel free to post here again if you need further assistance managing foreign bank transfers or have additional QuickBooks-related queries. The Community space is open 24/7, and we'll be here to help you. Take care!

Thank you for the detailed info!  Is there an additional cost to enable this feature or is this included in my current subscription?

Also, I have a client in France.  Can I set them up the same way to pay in Euro on their end and I receive in US$ on my end?

@wsieve-yahoo-com 

If you run a service company, you can use this proposal management app to integrate with QBO and accept international payments. If you only deal with international clients occasionally, cancel the app and resubscribe whenever you need to save costs.

https://get.practiceignition.com/quickbooks

Hello there. I'd be glad to share additional information about using the multi-currency feature in QuickBooks Online (QBO).

The Multi-currency feature is already included in QBO Essentials, Plus, and Advanced subscriptions. That said, you can enable it as long as you subscribe to any of those versions.

Before doing so, please know that once the feature is on, you can no longer turn it off. For reference, feel free to read this article: Set up and use multicurrency in QuickBooks Online.

Then, to help you turn on the multi-currency for your client in France, please refer to the steps in this article: Turn on Multicurrency. 

Once everything is fine, you're now ready to process transactions in foreign currencies (the article is for QBO SG users but the steps are applicable to US customers). 

I'll also include this helpful resource that you can read to know more about the exchange rates for foreign currency transactions in QBO: Learn about exchange rates in QuickBooks Online.

If you have any other concerns managing your multi-currency transactions, please don't hesitate to leave a reply below. Have a good one and stay safe. 

What options do I have to accept international client payments to me via Quickbooks invoice?  I'm not interested in credit cards or paypal given they charge 2.9%.  Wire transfers also cost a lot given I'm paid twice per month.

I understand the inconvenience of credit card or PayPal charges and wire transfers fee, @wsieve. You'll want to consider using a third-party application to manage payments easily in QuickBooks Online.

Paypal is a third-party program that you can integrate with QuickBooks. However, we're not affiliated with it.

Credit card and wire transfer have their charges for every transaction made. That's why I recognize how that would affect your business.

In the meantime, visit this page to check out other service providers that work with QuickBooks: QuickBooks App Store. Please know that we're unable to suggest a specific one. You can compare them and choose which one best suits your needs.

You're always welcome here if you have additional queries. I'd be delighted to provide more details on any QuickBooks-related tasks. Stay safe.