Thank you for providing the follow-up details about your concern, @A78nEn. I'm here to confirm your recommendation about the method you're managing in the program.
Yes, Fiat Lux - Asia is right. The QBO Global version doesn't have an inbuilt payroll function. You've mentioned above that you didn't use any payroll service in your US account. With this, it's good to hear you're entering expenses for your employees' payroll. It helps you keep track of their salaries in the program.
As for changing the employee's currency from the US to LAK, this option is unavailable. It's because we want to make sure your transactions are intact and accurate in the software.
Your suggestion of adding your employees as suppliers (LAK) to continue recording their salaries as expenses may not work. Here are some factors this method won't work though you're able to manage it in QBO:
- You have a US-based QBO account, but your business operates in Laos. Thus, there may be tax differences in the company's operations with each country's rules and regulations.
- Suppliers are people/companies that you owe money to as per their vendor agreements. Employees are people under your team that you'll have to pay them following their employment contracts. Thus, there may be tax implications on the differences of their reporting guidelines to the appropriate agencies.
I'd recommend visiting this website: Multicurrency Overview. It has in-depth information about the effects of using the Multicurrency feature on your company's accounts and balances. It also provides you links to learn more about this functionality in the program.
I'm just a comment away if you need anything else. Keep safe always, @A78nEn.
