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accounts-leopard
Level 1

My Home currency isLKR and I have some opening balance account like account receivable in USD. How Can I enter my opening balance in USD??

 
2 Comments 2
JonpriL
Moderator

My Home currency isLKR and I have some opening balance account like account receivable in USD. How Can I enter my opening balance in USD??

Hello @accounts-leopard,

 

The opening balance of an accounts receivable account is based on the created transaction and the currency assigned to the name with it. Since you wanted to enter the opening balance in USD, you'll have to create invoices and making sure the customer has USD currency assigned.

 

In the same manner, here's a couple of articles you can read for the steps in creating invoices and assigning currency to your customers:

 

 

On top of that, I've also included this reference helpful with the steps needed in accepting payments from your customers: Record invoice payments in QuickBooks Online.

 

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around happy to help. Take care and stay safe!

Fiat Lux - ASIA
Level 15

My Home currency isLKR and I have some opening balance account like account receivable in USD. How Can I enter my opening balance in USD??

@accounts-leopard 

Multi currency feature is only available on QBO Essentials and Plus. As an additional option, you may open a virtual business account at Wise to accept USD payments with a lower fee to none and a better rate. You can convert your USD balance anytime you need to LKR or withdraw it to your local bank. Utilize the bank feeds if required.

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