How can i transfer from usd Currency to eur currency ? noting that my home currency is lebanese pounds ? thank you

Thanks for visiting the Community today, merselwine.

We’ll have to create a clearing account and use it to transfer the USD currency to your home currency. I’ll help make sure the process is a breeze for you.

In QBO, we’re unable to directly move one currency account to the other. We use a clearing account to track this type of transaction.

To set up the account:

1. Go to the Accounting menu on the left panel and pick Chart of Accounts.
2. Hit the New button in the upper right to open the Account window.
3. From there, click the Account Type drop-down and choose Bank.
4. Then, select the correct category in the Detail Type drop-down and enter clearing account in the name field.
5. Press the Currency drop-down to select your home currency.
6. Tap the Save and Close button to keep the changes.

After setting up everything, transfer your USD currency to the newly created clearing account. From the clearing account to the home currency.

I’m adding an article for future reference. It contains information on how to track foreign currencies in QBO: Turn on and use multicurrency.

Click the Reply button if you have additional questions about QuickBooks. I’ll jump right back in to answer them for you. Wishing you continued success.

@merselwine 

Do you manage 3 bank accounts with 3 different currencies?

Hi,

This is same procedure to pay a vendor in a different currency , please ?

The vendor is in EUR, payment done in USD and Quickbooks is setup in CAD

Thank you !