For my personal / home accounts... I need to change my home currency from Canadian dollars to South African Rands...
Since it seems I cannot change the home currency, one idea I have is that I could do a backup at the end of my tax year, and then create a whole new file for my accounts, with the new home currency, and then do a 'take-on' of all my asset and liability accounts. One thing I wonder about is : can I import my existing chart of accounts, or will that cause the currency settings to come along with the accounts? Perhaps I will have to re-create the whole chart of accounts too? Then I can enter all the opening balances to them?
I can see that it will be necessary to re-create all my suppliers, customers etc. as I make payments...
Does anyone know of an easier way to do this? With Quickbooks Pro 2014.
Did you change your home currency before? After selecting a new currency, this will not be unchangeable.
Your idea would be great to get a fresh start. You can export all your lists and make the necessary modifications before importing them to QuickBooks Desktop. Make sure to use the South African Rands currency when importing your Chart of Accounts.
Sign in to your company file as an admin.
Note: If you’re in Multi-user mode, go to the File menu, then select Switch to Single-user Mode.
Go to the File menu, then select Utilities.
Select Export, then select Lists to IIF Files.
Select the lists you want to export, then select OK.
In the Save in dropdown, select a location to save your IIF file into.
Enter a file name, then select Save.
Go to the File menu, and then choose Utilities.
Select Import, and then pick IIF files.
Choose OK to close all windows.
Click the Import IIF option, and then choose the file you saved on your computer.
Hit Open and then wait for it to load. QBDT will let you know once you successfully imported the file.