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boscelticsaly33
Level 1

Copy a multi currencies company and need to change the home currency after

Hi! My company has an existing Swiss CHF and France EUR (both multi-currencies) books and now would like to add two more companies (one for Germany in EUR and one in UK for GBP). We'd like to mirror the existing books to be the same as the two new books. I did some research online on the process of copying the existing company's preferences and chart of accounts and I believe it will be straight forward for the Germany new entity, where I can just copy France's books directly since both are in EUR. 

 

My question is for the UK's books in GBP, if I am going to copy one of the existing books for this new UK entity, how will I be able to change the home currency to GBP? Is it even possible to change it as I read a lot of discussions that the home currency cannot be changed from a multi-currencies books.

 

Please let me know the best solution to the above or if anyone has experienced something similar. TIA..  

5 Comments 5
katherinejoyceO
QuickBooks Team

Copy a multi currencies company and need to change the home currency after

Hi there, @boscelticsaly33

 

You're right. Creating a new company file from existing ones is pretty straightforward. You can then turn on multicurrency and set up a home currency for your new company. 

 

Here's how:

 

  1. In the Edit menu, click Preferences.
  2. Click Multiple Currencies,then go to the Company Preferences tab.
  3. Select Yes, I use more than one currency, then select your home currency in the drop-down.

 

You can check out this article for further insights about using the multicurrency in QuickBooks.

 

Here's an article that will guide you more in using an existing company file to create a basic framework for new ones:

 

 

Feel free to ask more questions if you have any. I'll be there to guide you some more.

Fiat Lux - ASIA
Level 15

Copy a multi currencies company and need to change the home currency after

@boscelticsaly33 

You can purchase a 3rd party service to remove the multiple currencies from the company file and revert the file to using a single currency

 

boscelticsaly33
Level 1

Copy a multi currencies company and need to change the home currency after

If we have to go this route, who would that be that you can suggest? 

boscelticsaly33
Level 1

Copy a multi currencies company and need to change the home currency after

Thank you. My concern is that the book that I will copy over is going to be either in multi currencies with EUR or CHF already. Once a new company is copied, can I still / or am I able to change the home currency to GBP?

Fiat Lux - ASIA
Level 15

Copy a multi currencies company and need to change the home currency after

If we have to go this route, who would that be that you can suggest? 

 

Click my profile name and you will find our website address to send an email. 

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