Foreign Exchange amount on reports

Hi there, abbywwg.

You've come to the right place. I have a suggestion on this matter that I'm sure you'll find helpful.

I appreciate the screenshot you provided. Just to clarify, have you set your clients to pay with the correct currency (USD)? If you have,  the foreign exchange amount will show up on the report.

Now, we just need to customize the General Ledger report correctly to make sure that this will appear. Let me help you with that:

1. Click Reports in the left navigation menu.
2. Search for the General Ledger report and select it.
3. Click the Customize button.
4. Expand the Rows/Columns menu.
5. Select Change columns.
6. Scroll down and check the following options:
   - Foreign Amount
   - Currency
7. Hit Run report.

All of this information and more is also available in our guide on how to customize reports. I've also included a few screenshots below to guide you with the steps and to show you how the report will look like.

That should do it! I'm confident that with these resources, you'll be able to get your foreign exchange amounts onto the report like a pro in no time.

I always got your back. Don't hesitate to reach out to me here in the Community with any additional questions or concerns you may have. Thanks for dropping in, wishing you and your business only the best.

All of our expenses are in pesos so we pay our vendors in pesos.  consequently I don't know how the "set your clients to pay you with the correct currency (USD)" would work.  I enter all of our expenses in MXN$.

I figured out to add the columns, as was shown in my screen shot, but the amounts int he columns are still MXN$.

Thanks for getting back, abbywwg.

At the moment, the default currency when running General Ledger reports will be your company's home currency. This is why the amounts on your General Ledger report are still showing MXN$.

If you wish to have this feature included in the next update, I encourage you sending this great suggestion to our product developers the the feedback feature in QBO. I'll do the same thing on my end.

Here's how:

1. Click on the Gear icon.
2. Click Feedback.
3. Type in your feedback or feature request.
4. Click Send Message.

If there’s something else you need to find, please don’t hesitate to let me know. I’m always available here for all of your QuickBooks questions. I’ll keep an eye out for your reply.

My Home, or default currency is MXN.   On the GL report the "Foreign DR, Foreign CR, etc" columns should be the USD$, the OTHER currency I have designated in the currency part of the QB settings.  Our bank account is only in MXN.  However our clients are in the US and their reports need to be translated into USD$.

What is the purpose of those other columns if it isn't for doing the currency conversion designated by the "other" currency, comparing it to you Home currency (MXN)?

I will go enter my comments as you suggested.  Thank you.

      If we started a new QB account that was Home Currency USD$ but all our Vendors would be paid in MXN$ (so they were entered in as pesos) would the GL report work showing the two different currencies? 

      Our Customers would sometimes pay us in USD$ and sometimes in MXN$.  We could choose to enter income from a Customer in either currency, correct?

To answer your first question, yes the General Ledger report will display both currencies, abbywwg.

You can filter the report to display the USD and MXN currencies. Please take note though that the amount displayed for the MXN currency is the USD equivalent. For example, if the vendor's bill is MXN$250.00, the report will show the USD equivalent which is $12.71.

Here's how to open and customize the General Ledger report:

1. Click Reports on the left panel.
2. Type General Ledger on the search box.
3. Click the Customize button in the upper right-hand corner.
4. Maximize the Rows/Columns section, and then click the Change columns link.
5. Scroll down and check the box for Currency.
6. Click the Run report button in the lower right-hand corner.

To answer your second question, you can't choose a different currency when entering income transactions. The currency will be based on what you've set up in the customer's profile. As a workaround, you can manually convert the amount to USD currency if your customer paid in Mexican peso.

Please feel free to leave a reply if you have any further questions. Happy New Year!

Sending Feedback NEVER returns any answers.

Hi there, Strasso.

Glad to you have in this thread. 

You can visit this link: Customer Feedback for QuickBooks Online and search for your feedback. This is where you can check the status of your request and view comments from other users who have the same inquiry.

In case you need help with other task in QuickBooks Online, feel free to visit our general help topics page for the articles and guides.

Please don't hesitate to leave a reply below if you have additional questions or other concerns. We're always around to answer them. Have a good day ahead.