can you setup account receivable account in foreign currency?

Make sure you are not using QBO Simple Start and you will need to enable the multicurrency feature in the setting.

You can set up your Accounts Receivable (A/R) and Accounts Payable (A/P) in EUR currency, Juliana. I will elaborate further on this topic below.

Before you can utilize any currency in QuickBooks Online (QBO), it's essential to activate the Multicurrency feature. This capability allows you to manage transactions in multiple currencies, which is particularly beneficial for businesses with international clients or suppliers. Please note that the feature is only available for QBO Essentials, Plus, or Advanced subscription plans.

Here's how you can enable the Multicurrency:

1. Go to the Gear icon and select Account and Settings. 

2. Proceed to the Advanced tab. 

3. Click the pencil icon on the Currency section

4. Tick the Multicurrency checkbox and confirm that you understand that you can't undo this option.

5.Hit Save and Done. 

After that, you can now create an account on the Chart of Accounts.

1. Navigate to the Gear icon, then choose Chart of Accounts.

2.Tap the New button. 

3. Fill out the Account name and pick Accounts receivable or Accounts Payable under the Account type.

4. Finally, Save.

It's important to note that when you initiate a transaction for a customer, the transaction will automatically be recorded in the default A/R and A/P accounts. To convert this entry into another currency, you will need to create a Journal Entry. This process involves manually adjusting the original transaction by debiting and crediting the appropriate accounts to reflect the new currency.

Furthermore, if you want to delete an account, you can instead make it inactive, allowing you to retain past transactions. For more information, please refer to this article: Make An Account Inactive on your Chart of Accounts in QuickBooks Online.

Should you have any further questions or require additional guidance on managing your accounts within QuickBooks Online, feel free to leave a comment below or start a new discussion thread. I'm here to help ensure your experience with QuickBooks Online is seamless and beneficial for your business needs.