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I have multicurrency turned on in QBO, but international payments is not an option for a foreign vendor.
Hello, Laura G.
You have the option to use a third-party app such as Bill Pay to be able to pay vendors through international currencies.
Within the system, you'll want to manually convert and input the payment or you can use a dummy account to make payment for the foreign bill with a different foreign currency. Here's how to create a dummy account:
When creating vendor payments, ensure that you select the dummy account under the Bank Account drop-down. Review the amount displayed, it should be the home currency. Next, we’ll have to transfer this USD payment from Dummy Bank to the International bank account. I'd suggest reaching out to an accountant to help you correctly transfer the funds.
To take a look at an overview of your payments, you can run reports.
Let me know if you have other questions. I'll be around the corner to keep an eye on your response. Take care!
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