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rob106
Level 1

I have purchased inventory in EU. I sell it in USD. How do I adjust the currency difference? I have a discrepancy in cost vs sales.

I entered my cost in EU dollars, but my sales are in USD
3 Comments 3
Rustler
Level 15

I have purchased inventory in EU. I sell it in USD. How do I adjust the currency difference? I have a discrepancy in cost vs sales.

I'm not sure what "entered my cost" means in actuality

 

Inventory has to be ordered and paid for using a bill or a payment.  To do that in company settings you turn on Item Details, then when entering the purchase you use the item detail part and list each item, qty and total cost.

 

QB keeps inventory value in the home currency, there are no choices.  Any difference in exchange rates are handled at the purchase 

rob106
Level 1

I have purchased inventory in EU. I sell it in USD. How do I adjust the currency difference? I have a discrepancy in cost vs sales.

Thank you for the response.  So if I am reading you response correctly, I have the enter the cost of the item in USD and I would have to calculate the USD cost before entering the item cost.  Paying the customer in EU does not have anything to do with the inventory costing

Fiat Lux - ASIA
Level 15

I have purchased inventory in EU. I sell it in USD. How do I adjust the currency difference? I have a discrepancy in cost vs sales.

@rob106 

Consider having an inventory management app to record your purchased inventory in their original currency.

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