Sales by Item Report cash-basis with multi-currency

Let me share further details on how multicurrency works in QuickBooks Desktop (QBDT), @heshapiro. This way, you're able to manage your sales transactions accordingly.

In QBDT, multicurrency is converted using an exchange rate and will display home currency. You'll have to manually track your multicurrency transactions (i.e., paying royalties on item sales) by pulling up the appropriate sales and manufacturing and wholesale edition reports available.

Additionally, the QBDT platform provides different reports (i.e., company and financial reports) that cater to your business needs. If you wish to know more about how the system generates them, I'd recommend checking out this article: Understand reports. It also includes the complete list of available reports and their description.

Then, you'll have the option to focus on the details that matter the most when pulling up reports in QBDT. To learn more about this, you can refer to this article: Customize reports in QuickBooks Desktop. It also includes other related links that cover basic information about reports on the platform.

If there's anything else I can help you with, I'm always ready to help. Take care and stay safe.

Hi Rea,

I was not asking how multi-currency works.  I have implemented SAP numerous times and worked on the development of Oracle Financials early in my career.  Sales transactions are recorded based on the exchange rate at invoice time and cash receipts use the currency exchange rate when those are collected.  The difference is booked to gains/loss on currency.  Using cash basis the exchange rate would be determined on cash receipt.  This report incorrectly uses invoice date exchange rate on both sales amount and cash receipt amount.

BTW, according to support this is an open investigation reported by numerous parties.

Knowing this is a defect, does anyone have a cash application report by invoice number?  I see on this forum that deposits and cash receipts report does not quite meet the need.

Thanks,

Hi heshapiro!

Thanks for the reply. Let me join this thread and share some info about your concern.

I also checked and verified that QuickBooks Desktop is using the exchange rate on the invoice instead of the payment transaction. With this, it's best to seek further help from our Support Team.

1. Go to Help, then select QuickBooks Desktop Help.
2. Select Contact Us.
3. Give a brief description of your issue, then select Let's talk, and then choose a way to connect.

With regards to the report, although we don't have a specific sales report by invoice number, here's what I can suggest. We can pull up the Transaction List by Customer and export it to Excel. From there, we can customize it to get the right data you need.

1. From the Reports menu, go to the Customers & Receivables and select Transaction List by Customer.
2. Set the correct Dates.
3. Click the Excel drop-down and choose Create New Worksheet.

You may also check this link on how to personalize a report: Customize reports in QuickBooks Desktop.

Keep on posting here if you need anything else. Take care!