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Set up multi-currency in Intuit Enterprise Suite

by Intuit •

•

Updated 10/5/2026 14:08

Learn how to turn on multi-currency in Intuit Enterprise Suite, manage exchange rates from one central rate table, and let your reports handle foreign currency automatically.

If your organization works with customers, vendors, or bank accounts in other currencies, multi-currency tracks the exchange rates for you. A guided setup walks you through turning it on. After that, one central rate table sets the rates for every company in your organization, and reports like the Trial Balance and Balance Sheet convert foreign balances on their own.

Note: Multi-currency in Intuit Enterprise Suite is in beta and available in the United States. During the beta, every company in your organization must use US dollars (USD) as its functional currency. Support for other functional currencies is coming in a later release.

How multi-currency works in Intuit Enterprise Suite

Multi-currency lets each company in your organization record transactions in other currencies while your books stay in your functional currency. The functional currency is the currency a company uses for its financial statements. It’s usually the currency of the country where the company is located.

When multi-currency is on:

Your chart of accounts can include foreign currency accounts. Most account types, including bank and credit card accounts, can be set up in another currency. You set the currency when you add the account in your chart of accounts. On reports, these accounts show their currency after the name, like Checking - GBP.
One central rate table sets exchange rates for every company. Rates come from Communify, a third-party provider, and update automatically. You can save your own rate for any date.
Reports convert foreign balances automatically. The Trial Balance and Balance Sheet use the exchange rate for the report end date, so you don’t revalue currencies by hand.
Every rate change is recorded. The audit log shows who changed which rate, for which currency and date.

Before you turn on multi-currency

Multi-currency changes how your whole organization works, so review these points first:

You can’t turn it off later. Turning on multi-currency is permanent for every company in your organization.
During the beta, functional currencies must be USD. You can add foreign currency accounts, customers, and vendors, but each company’s functional currency stays US dollars for now.
Some features aren’t available yet. During the beta, multi-currency works with these core reports: Trial Balance, Balance Sheet, Profit and Loss, Unrealized Exchange Gains and Losses, and Realized Exchange Gains and Losses. Access to other reports will be available over the next few months. Budgets, projects, inventory, and fixed assets aren’t fully supported yet, and the home page widgets and KPIs use historical exchange rates, with a banner that explains how to reconcile them with your reports.
Payroll has its own currency rules. Payroll and contractor payments only pay in the local currency of the country where the company is located. If a company has payroll, its functional currency can’t change.
Plan it with an expert. During the beta, we recommend working with your Customer Success Manager or your accountant before you turn on multi-currency.

Turn on multi-currency

Where you turn on multi-currency depends on how many companies you manage.

Turn on multi-currency for one company

Go to Settings , select Account and settings, then Advanced.
In the Currency section, select Turn on multicurrency.
Select Yes, turn on multicurrency.

Turn on multi-currency for your organization

If you manage more than one company, turn it on for the whole organization from consolidated view. A guided setup checks each company’s functional currency and clears up any conflicting exchange rates before anything changes.

In Intuit Enterprise Suite, switch to consolidated view.
Go to Settings , then select Currencies.
Select Set up multicurrency.
Confirm the functional currency for each company. During the beta, each one must be USD.
Resolve any conflicting exchange rates. If your companies saved different rates for the same date in the past, choose the rate the whole organization will use. To save time, you can apply one company’s saved rates to all companies.
Select Save and finish, then confirm your choice.

Intuit Enterprise Suite applies your rate choices, gets your chart of accounts ready for foreign currency accounts, and takes you to the Currencies page. From there, a few short tasks help you add foreign accounts and tidy up any old rate overrides.

Note: This step is permanent. Once you select Save and finish, multi-currency stays on for every company in your organization.

Manage exchange rates in the central rate table

The Currencies page in consolidated view holds one rate table for your whole organization. It automatically lists every currency used in your chart of accounts. Default rates come from Communify, a third-party exchange rate provider. They refresh four times a day, and reports use the final rate of each day. If you’d rather use a rate from your bank statement or another source you trust, you can save your own rate for any date.

To look up or override a rate:

In consolidated view, go to Settings , then select Currencies.
Find the currency, then select Edit exchange rate.
Enter a date to see the default rate for that date.
To use your own rate, enter it, then select Save.

Saved rates apply to every company in the organization and appear in a history table, so you can always see what the rate was before. If a rate you enter differs from the default rate by more than 1%, Intuit Enterprise Suite asks you to confirm it. Every change is recorded in the audit log with the user, the currency pair, the date, and the old and new rates.

Note: Only the primary admin, or users with the Currencies permission, can edit the rate table. Everyone else can view rates but can’t change them.

Set the exchange rate on a single transaction

Foreign currency forms, like an invoice or a bill, show the exchange rate in the currency section of the form. The default rate for the transaction date is applied automatically. If the money actually moved at a different rate, you can change it for that transaction only.

On the transaction form, go to the currency section and select Edit rate next to the exchange rate.
Choose the default rate, a rate your organization saved for that date, or a custom rate for this transaction only.
Save the transaction.

A rate you set on a transaction never changes the central rate table, so your reports stay protected. To change the rate reports use, update the rate table on the Currencies page instead.

How reports handle foreign currency

You don’t revalue currencies by hand in Intuit Enterprise Suite. Reports read their own date range and apply the right exchange rate for every foreign account automatically. If you change the report end date, the rates and any unrealized gains or losses update with it.

Trial Balance

The Trial Balance shows your foreign accounts converted to US dollars as of the report end date. For the full story, the Trial Balance detail view lists each foreign account in its own currency, the foreign balance, the exchange rate used, and the converted amount, along with any unrealized exchange gain or loss. You can show or hide the conversion detail.

Balance Sheet

The Balance Sheet converts foreign asset and liability balances using the exchange rate for the report end date. Run it for any date, and the balances reflect that day’s rate — no month-end adjustment needed.

Unrealized and realized gains and losses

When exchange rates move, the value of your foreign balances moves too. Reports calculate this for you:

Unrealized gains and losses cover open balances, like an unpaid invoice or a foreign bank account. They’re calculated on the report from your report dates, not posted to an account. Select the amount to open a detail report of the transactions behind it.
Realized gains and losses are recorded when a payment happens, based on the rate on the payment date compared to the rate on the transaction date. They post to a Realized Exchange Gain or Loss account, and you can drill down to a detail report. If your company already had an Exchange Gain or Loss account, it’s renamed Realized Exchange Gain or Loss.

Moving from QuickBooks Desktop?

Note: If you’re migrating from QuickBooks Desktop, the Intuit Enterprise Suite multi-currency experience is significantly more automated. You no longer need to perform manual currency revaluations at month-end. Exchange rates are protected by a centralized rate table with a full audit log.

In QuickBooks Desktop, you revalued foreign balances yourself at period end. In Intuit Enterprise Suite, reports do that math from their own date range, and the central rate table keeps every company on the same rates. Your historical numbers don’t change when you move — closed periods keep what they reported.