I've got you covered, Maria. Let me help and impart a few details about setting up multicurrency in QuickBooks Online (QBO).
To start with, can you please tell me what specific problem you're encountering while setting up the multicurrency? Knowing this will help me provide appropriate solutions to your concerns.
The QuickBooks Multicurrency makes it easy for you to record foreign transactions without worrying about exchange rate conversions. However, please note the following before turning it on or setting it up:
- Once Multicurrency is on, you can no longer turn it off. This is because currency conversion information will have to be accounted for in the system moving forward. If you’re not sure, we recommend talking to an accountant.
- Multicurrency is not available for Simple Start users. Here’s how upgrade or downgrade your QuickBooks Online subscription so you can start tracking your foreign currency transactions.
- If you connect QuickBooks Commerce with QuickBooks Online, Multicurrency won’t work.
- Turning on Multicurrency will deactivate the cash flow planner in QuickBooks Online.
- If you encounter the “Something’s not quite right” error during the Multicurrency setup, try clearing your cache and cookies to fix the issue.
For more detailed information about multicurrency, check this article: Set up and use Multicurrency in QBO
Additionally, this article will help you add a vendor with a foreign currency: Add a vendor with a foreign currency in QuickBooks Online.
Feel free to leave a comment below, Maria, if you have any further questions about setting up Multicurrency in QuickBooks. I'm here to help you in any way I can.
