I just encountered last month that the local currency of my international vendor is being reflected in my GL balance . I did not have the same issue the months before that. What could have gone wrong?
Welcome and thanks for posting in the Community, @AxeLegaspi13.
In QuickBooks Online (QBO), reports convert all foreign currency to Home currency amounts and automatically reflect exchange rate changes.
To ensure that I'm on the same page, can I ask for a screenshot of General Ledger that shows the local currency of your international vendors? Just make sure to hide any sensitive information for security purposes.
In the meantime, try signing into your QBO using a private browser (incognito). This will help us check if the browser is already full of frequently accessed page resources, causing some unusual responses.
Once logged in, pull up General Ledger again to double-check. If everything looks good, return to your default browser and perform a clear cache to refresh the system. However, if the issue persists, try using other supported browsers.
Just in case, I'll add these articles for future reference:
Please let me know if you have any other issues or concerns, and I'll get back to you as soon as possible. I'm always here to help. Take care and have an amazing rest of the day!
Thank you for the reply, yes, you are right previously it was working fine and was converting the transactions to my home currency (USD), but then for some reason, the amount shown in the GL is the equivalent amount in the local currency of the international vendor and not the converted amount in my home currency thus overstating my expense GL. For example , it should only be $100 dollar in my GL but instead its showing as $ 5000 which the equivalent amount in the international vendors local currency (PHP 5000)
Thanks for the reply, @AxeLegaspi13.
I want to ensure this gets resolved for you. Let me redirect you to the right support so the home currency can be corrected.
I recommend reaching out to the QuickBooks Online Support Team. Rest assured, they have the tools to assess your account in a secure environment and get into a screen share. By doing this, it will help the agent see what's causing this behavior and take any necessary actions to get everything straightened out for you. Here's how to get in touch:
You'll hear from an agent shortly. I'll be here if you have any other questions or concerns. Take care!