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thuthuy020709
Level 2

create an account payable in a foreign currency

I want to create an account payable in a foreign currency. However, when I choose account type as accounts payable, there is no currency

 

Solved
Best answer December 10, 2022

Best Answers
Angelyn_T
QuickBooks Team

create an account payable in a foreign currency

Welcome, @thuthuy020709. Great news! I know how to add accounts payable (AP) in a foreign currency in QuickBooks Online (QBO). I'm here to share them with you.

 

The system creates an AP account in foreign currency once you make a bill in that currency. At this time, I suggest creating a dummy bill using the vendor's currency to achieve your goal.

 

  1. Sign in to your QBO account.
  2. Go to the +New icon, then Bill.
  3. Select the vendor's name with the foreign currency. If you haven't added yet, learn how to set up a vendor from this article: Add a supplier in QuickBooks Online.
  4. Fill in the details, then save the transaction.

 

After that, go to your Chart of Accounts to review your AP accounts.

 

Then, delete the dummy bill if needed.

 

  1. Open the transaction.
  2. Select Delete from the More button.
  3. Hit Yes to confirm the action.

 

You may also check the steps from this article for an additional guide: Void or delete transactions in QuickBooks Online.

 

Additionally, I'm adding this link for more tips while managing your accounts in QBO: Learn about the chart of accounts in QuickBooks Online.

 

Let me know if you have follow-up questions while replicating the solutions provided. I'm always happy to help you again. Have a great weekend!

View solution in original post

1 Comment 1
Angelyn_T
QuickBooks Team

create an account payable in a foreign currency

Welcome, @thuthuy020709. Great news! I know how to add accounts payable (AP) in a foreign currency in QuickBooks Online (QBO). I'm here to share them with you.

 

The system creates an AP account in foreign currency once you make a bill in that currency. At this time, I suggest creating a dummy bill using the vendor's currency to achieve your goal.

 

  1. Sign in to your QBO account.
  2. Go to the +New icon, then Bill.
  3. Select the vendor's name with the foreign currency. If you haven't added yet, learn how to set up a vendor from this article: Add a supplier in QuickBooks Online.
  4. Fill in the details, then save the transaction.

 

After that, go to your Chart of Accounts to review your AP accounts.

 

Then, delete the dummy bill if needed.

 

  1. Open the transaction.
  2. Select Delete from the More button.
  3. Hit Yes to confirm the action.

 

You may also check the steps from this article for an additional guide: Void or delete transactions in QuickBooks Online.

 

Additionally, I'm adding this link for more tips while managing your accounts in QBO: Learn about the chart of accounts in QuickBooks Online.

 

Let me know if you have follow-up questions while replicating the solutions provided. I'm always happy to help you again. Have a great weekend!