My home currency is CAD. I have a vendor set up in EUR. I also have a USD bank account. I need to pay a bill for the EUR vendor from my USD bank account. How? Thanks.
In the bill payment page when I select my USD bank account to pay the EUR bill, I get "Something's not quite right Transactions can have only one foreign currency at a time." Please help. Much appreciated. Is there a work around way to do this. Thank you.
Yes, Fiat is right. You can utilize the clearing account. In QuickBooks, a clearing account is used to move money from one account to another without moving it directly. This is like a holding account that holds your fund until you’re ready to move it. Just follow these simple steps:
Sign in to your QuickBooks account and go to Accounting on the left-side panel.
Select Chart of Accounts.
On the Chart of Accounts screen, click the New tab.
Choose Bank for the Account Type. You may choose any detail type you want for your clearing account.
Type in the Name for the clearing account.
Make sure you do not type in any amount on the balance before clicking Save and Close.
Once done, you can proceed in creating a journal entry to move the money into the right account. Here's how:
From your QuickBooks Online (QBO) account dashboard, Go to the + Menu.