I'm here to provide details on how the Multicurrency feature works when connecting bank accounts to help you effectively manage your finances, Amar.
When you connect multiple currency bank accounts to QuickBooks Online (QBO), transactions will be downloaded according to their default currency. The Currency column in the Chart of Accounts shows the currency assigned to the account, with balances reflected in the account's assigned currency.
Furthermore, QuickBooks uses exchange rates to display the value of a foreign currency transaction in your home currency. You can use this function or input exchange rates manually for foreign currency transactions.
To learn more about utilizing the Multicurrency feature in QuickBooks, please see this article: Set up and use Multicurrency in QuickBooks Online.
Additionally, you may want to check out this article to get answers to the most commonly asked questions about multi-currency in QBO: Multi-currency FAQ.
I've got you covered if you have other questions about multi-currency bank accounts and managing transactions in QBO. I want to ensure this gets resolved for you. Stay safe.
