Hi There, What could be the cause of converting the currency from dollar to home for some transactions while it doesn't 4 others making the reported balance unrealistic

It’s nice to see you in the Community, danny-hanyurwimf.

Thanks for considering using the Multicurrency tool in managing your foreign currency. Allow me to provide some information on how this option works. 

QuickBooks Online uses the most recent exchange rates from Markit. They are stored based on a combination of currency code and the rate’s effective date (as-of date). This is why the exchange rate is different.

For additional details about exchange rates, visit these articles: 

• Enter and use your own exchange rates
• Enter home currency adjustments for your foreign balances

If you need further assistance in managing your account, leave me a comment below. It's always a pleasure to help you. Take care

Hi

The issue if far beyond that. In fact, with the exchange rate applied, QB does not pick valued amount. Instead it picks the transaction value and does not convert 

I appreciate you for sharing additional details about your concern with us, @danny-hanyurwimf.
 

I'll share some insights about multicurrency works in QuickBooks Online (QBO).

QBO uses exchange rates to show you how much currency transactions is in your home currency value. It also uses this rates for your report. It converts foreign currency amount to your home currency value to included all transactions in your report.

You can utilize these articles for the complete details: 

• Learn about exchange rates in QuickBooks Online 
• About Multicurrency

Furthermore, if it doesn't convert your rates, I recommend logging out and logging back in to your account to refresh it.

Once you're all set, you might want to check out this resource that can help manage your account seamlessly: Reconcile an account in QuickBooks Online.

You can always get back to me if you need more help about multicurrency in QBO. I'll be here ready to back you up!

Thank you so much. Got it resolved

I am having a similar issue - For some reason several amounts on a Profit & Loss Report are not converted to the home currency (CRC) and instead show the amount in USD, making the total amounts inaccurate. These are transactions in a USD account and when I pull up the details it correctly says USD but the bottom where the home currency total is shown does not convert it either. 

How do I fix this to show the accurate totals in the home currency? I see no option on the report settings to show the totals in USD, so I usually export to excel and do this manually.

Hi there, vbezy.

Reports will use the home currency by default. you'll want to make sure the home currency is selected on the settings so report will show the correct value.

Here's how:

1. Go to the Gear icon.
2. Select Account and Settings, then choose Advanced tab.
3. From the Currency section, click the pencil icon.
4. Choose your Home Currency from drop-down arrow.
5. Select Save, then Done.

Once done, you'll want to create a home currency adjustment to balance out the amount. Here's how:

1. Go to the Gear or Settings icon, then select Currencies.
2. Find the currency you want to adjust.
3. Under the Actions column, select the small arrow ▼ icon.
4. Click Revalue Currency.
5. Pick a date (today or a day in the past) to run a currency revaluation.
6. Select whether you'd like the revaluation to be based on the market exchange rate or a rate you specify.
7. Choose the account(s) you want to apply the revaluation to.
8. Click Revalue currency.
   

You can check out these following articles, to give you more insights about Home currency adjustments and how multi currency works in QBO:
 

• How Multicurrency works
• Frequently Asked Questions about Home Currency Adjustments
   

In case you wan to learn more on how to filter reports, you can refer to this article: Customize reports in QuickBooks Online.

Let me know in the comment section if you have any further clarification about customizing reports and currency. I'm rooting for the prosperity of your business!