Can we create invoices and received payment in different currency in QuickBooks ? Like in Paypal we can create invoices and received payment in different currency.

Hi there, jamshedimran.

Yes, you can create invoices in different currencies. However, you need to use the same currency assigned to the invoices when receiving customer payments.

Since you want to assign the payment to a different currency, I suggest creating a bank deposit.

To do this, you'll need to turn on first the Multicurrency feature from Account and Settings. 

Here's how:

1. Go to the Gear icon. Then, select Account and Settings.
2. Choose the Advanced tab.
3. Select Edit in the Currency section and choose your Home Currency.
4. Choose the Multicurrency checkbox and confirm that you understand that you can't undo this option.
5. Hit Save and close.

For additional information, you can check this article: Turn on and use multicurrency.

Once done, you'll need to set up your customer for multicurrency. Whenever you create invoices, it will automatically detect its currency. Follow the steps below.

1. Go to the Sales tab at the left panel. Then, choose Customers section.
2. Click the New customer button.
3. Fill up the Customer Information window.
4. Click the Payment and billing tab.
5. Click on the drop-down under This customer pays me with, and select the customer currency.
6. Hit Save.

After that, you can receive and categorise the payments to show the invoice as paid. Please click this article to see the detailed steps: Record invoice payments in QuickBooks Online.

Then, you can now assign the payment to a different currency. Follow these steps:

1. Click the Plus icon at the upper left corner. Then, choose Bank deposit.
2. From the Account field, choose the account assigned to different currencies.
3. In the Currency drop-down arrow, choose the currency you assigned to the invoice.
4. Checkmark the box beside the customer's name or to whom the payment came from.
5. Fill in the other necessary fields.
6. Hit Save and close.

Please check the articles below to see steps on how you can create a home currency adjustment and how to review information about Home currency adjustments that can help you when using the Multi-currency feature.

• Enter home currency adjustments for your foreign balances.
• Frequently Asked Questions about Home Currency Adjustments.

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

@jamshedimran 

As additional option, explore and open a multi currency business account at Wise as the virtual bank. You may utilize the bank feeds.

https://wise.prf.hn/l/64dl92k

Hello there ChristieAnn i am having a similar issue for payments to suppliers in a different currency than the bank account currency and was reading through your reply to Jamshedimran.

Can you please advise if the below steps you sent also apply to bill payments? 

And secondly when you say 

1. From the Account field, choose the account assigned to different currencies., which account are you referring to please?

Thanks in advance.

Thanks for joining this thread, Angeli. I've got some additional information for you.

I've seen that you’ve posted twice on the Community. My colleague has already addressed your concern about supplier payments in a different currency. You can check this link to view her recommendation: https://quickbooks.intuit.com/learn-support/en-us/payments/multi-currency-payments/01/989501#M33814.

For the instructions mentioned above, ChristieAnn is referring to the account you used to facilitate the movement between 2 different foreign currencies.

You can check this reference for depth insights on how to manage payments for a transaction with a foreign currency: Receiving and making payment for a foreign invoice/ bill with a foreign currency. It’s for QuickBooks Online (QBO) South Africa but the process applies in all QBO regions.

You can contact your accountant if you need further assistance in setting up and categorizing your transactions.

You might want to visit this article to learn how to process international payments in just a few clicks: Send international payments using Bill Pay for QuickBooks Online.

Don’t hesitate to tap the Reply button below if you have any other questions or concerns besides foreign payments. I’ll be here to help. Have a great day and always take care!

Thank you all for your valuable help. I tried it and it did work. Cheers