We're thrilled to have you here, Brandedc. I'll outline the key changes you can expect when you enable the multicurrency feature in QuickBooks Online (QBO), including why it cannot be turned off and which features will no longer be available.
First, please know that the multicurrency feature can't be turned off once enabled because it fundamentally changes how QuickBooks handles currency conversions and transactions. This is necessary to maintain accurate financial records that reflect currency exchange fluctuations over time.
Additionally, these are the things you need to know if you turned on the Multicurrency feature:
- You can only have one home currency (e.g. CAD, EUR, or US).
- If you have international customers or vendors who require invoices in their local currencies, you'll have to create separate customer and vendor profiles for each currency. This affects the way reports are generated and organized.
For more details about the Multicurrency feature in QBO, you can check out this article: Set up and use Multicurrency in QuickBooks Online.
Lastly, I'll provide these resources that can help in managing exchange rates in QBO:
Don't hesitate to add more replies if you still need more help in managing the Multicurrency feature in QBO. We'd want to make sure that everything is taken care of.
