Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Thank you for adding a post, @accounting-rafin.
I can share with you some information about processing multi-currency payments in QuickBooks Online.
Once you purchase a product, you need to create a vendor with the desired currency. When recording the payment, you're only able to use the bank account with the currency that matches the bill. For now, you can create a dummy bank account with your vendor's currency and transfer funds from your live account. Then, use the dummy account when recording the payment.
To create a dummy account:
Then, transfer funds from your account to the dummy account created. Here's the link that gives you the detailed instructions: Transfer funds between accounts.
Once completed, you're now ready to pay the vendor bill.
For other options, feel free to reach out with your professional accountant. This way, they can give you alternatives and ensure to keep your records accurate.
You can also read this SG article for additional resources about receiving and making payment for a foreign invoice/ bill with a foreign currency.
Post again if you have any other questions. I'm always here to help. Have a good day!
If you deal with many multi currency transactions, explore these options to get a lower fee and better exchange rate.
https:// veem.grsm.io/veems
https:// prf.hn/l/7gg1NWy
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here