Vendor Bill Foreign Currency Match with 2 transactions in Bank statement

Let me help with your questions about matching downloaded transactions, Navneet.

When managing online banking transactions, there's an option if you want to match it using the home or foreign currency. Here's how:

1. Go back to the Banking menu and proceed to the For review tab.
2. Look for the transaction and click on it.
3. Click Find other matches.
4. Select Foreign currency.
5. Look for the bill and check the box before it.
6. Click Save.

You can read more details about managing bank transactions in these articles:

• Categorize and Match Online Bank Transactions in QuickBooks Online 
• What to Do if You Get a Bank Error or Can't Download Transactions in QuickBooks Online 

Additional references are also provided here in case you might need them:

• Learn About Exchange Rates in QuickBooks Online
• Frequently Asked Questions about Home Currency Adjustments

Feel free to visit and post more questions in the Community if you need anything else. We'll jump right back to help you always.

Hi Jenop,

thanks for the reply but the question is different from what u answered. I am already aware of matching foreign currency transactions. The question says to match 1 foreign currency bill with 2 transactions in the bank feed. Hope you will get the question now and will help in finding the solution. Thanks anyway.

Regards,

Navneet

Thanks for getting back to us, Navnee.

Allow me to share additional information about matching foreign currency bill in the bank feed.

The bank feeds feature in QuickBooks Online will automatically identify and use your home currency. This time, let's make sure the transactions you're matching have the same currency. After you click the Foreign currency option, you'll need to double-check the date.  Make sure the bill's period is within the date range.

I've added these articles for some tips when matching transactions in QBO:

• Tips for Working in QuickBooks Online’s Bank Feeds: Matching Transactions.
• Multi-currency tips and tricks.

You can always tap me on my shoulder if you have question about matching transactions to QuickBooks Online. I'll be around to back you up. Stay safe!

Hello @Navneet Singhal,

I have reviewed the solution you’ve shared and it's correct and accurate. Thank you for sharing your inputs to help address the issue.

We love to see members supporting one another! Have a great day. 

I'm having the same problem.  When I follow solution and click "Schedule Payment" it takes me to qbo's bill payment system, which we don't use.  It seems there's no way to match two or more bank transactions in a foreign currency to some banking transaction.  Let me know when QBO figures out a solution to this.  Thx. 

Hi, steveatliftinghands.

I'm here to share more information about scheduled payments.

You can use the Schedule Payments feature once you take and process payments using QuickBooks Payments. Thus, the system routes you to the Bill Payment page.

I've added this reference for more information: Get paid with Schedule Pay.

As for matching transactions, the online banking feature in QBO will automatically identify and use your home currency. When you match transactions, you'll have the option to toggle between Home currency and Foreign currency. Here's how:

1. From the Banking tab, select Banking.
2. Select the tile for the account you want to review.
3. Go to the For review tab, then find and select the downloaded transaction you want to match.
4. Click the Find other matches button.
5. Toggle between the Home currency and Foreign currency buttons.
6. Select the boxes beside the bills, then click Save.

Afterward, you're now ready to reconcile your account. I'd recommend doing this process every month. This is to effectively monitor your income, expenses, and the growth of your business. For the step-by-step guide, you can check out this article: Reconcile an account in QuickBooks Online.

Let me know if you have other banking and multicurrency concerns or questions about managing transactions in QBO. I'm always ready to help.

The toggle between the Home currency and Foreign currency buttons does not exist if the bank account is a Euro account.  It does if it's a USD account.  But not Euro.  

I'm trying to match transactions in my Euro bank to bills in Euro currency.  

Thanks for getting back to us, Steve. 

I can see the relevance of being able to match multiple bank transactions in a foreign currency to bills in a Euro currency. Currently, this feature isn't available in QuickBooks Online (QBO). 

Yes, you're right. We can only toggle between the Home and Foreign currency if it's a US bank account. Since we're unable to match transactions with foreign currencies, let's exclude those transactions as a workaround. Please note that when excluding a transaction, it doesn't appear in any financial reports or account registers.

In the meantime, we can relay this valuable input to our Product Development team. This way, they can review your request and might consider adding it to our future product updates. Here's how:

1. Go to the Gear icon.
2. Under Profile, select Feedback.
3. Enter your suggestion, then click Next.

Furthermore, we can wire international payments to foreign vendors in just a few clicks using Bill Pay. You may access this new tool from your account, and it makes international transactions quick and easy.

Feel free to leave a reply if you have any follow-up questions about matching transactions in QBO. We're always around to help. Stay safe!