Is there a report that shows foreign balance and home currency balance of all balance sheet accounts ?

Hi Fiona,

Welcome to the QuickBooks Community. I got information about the currencies in the Balance Sheet report.

We can only have the amounts in your home currency in a Balance Sheet report. There is another report called Balance Sheet Detail that can show you amounts based on an account’s currency. I'll share the steps to achieve this.

1. Go to Reports.
2. Search for Balance Sheet Detail and click the result.
3. Click the small Gear icon on the report page and then Show more.
4. Select the Currency and Foreign amount checkboxes.
5. Click Run Report.

You can also make customisations to filter the data you only need.

Feel free to visit us back through this thread if you need more help with reports. Take care and have a good one!

Hi Adrian

Thanks for your quick reply.  

I tried what you suggested but the "foreign amount" field only translates the transactions on the specific date of report and not the closing balance.

I don't know why there is not a field for "foreign Balance" which was in desk top version.

Below is a sample of what I need.  On desk top version I was able to pull the columns required but I could only get current balances and was unable to go back and balances at a specified date.

Any further suggestions would be greatly appreciated.

Fiona

Running reports that show foreign and home currency balances in QuickBooks Online (QBO) is great functionality, @fiona-occaccount.

As of now, this feature is unavailable in QBO. I can see how this functionality would be beneficial to your business. I encourage sending feedback directly to our Product Development team. This helps us improve the features of the program. I'll show you how:
 

1. Go to the Gear menu and then select Feedback.
2. Type in your feature request in the description box.
3. Once done, click on Next.

I'm including these articles below to learn more about how multi-currency works in the program: 

• Enter and use your own exchange rates.
• Learn about exchange rates in QuickBooks Online.

If you have any further questions or require QuickBooks assistance, please leave your comment below. We'll be there for you at all times. Have a fantastic day!

So if I have a bank account with a foreign currency I can not see the total balance in foreign currency ? Only in functional currency ?

I appreciate you joining this thread, Mariam.

Yes, generating the total balance in foreign currency on the Balance Sheet report is unavailable. Having this feature would be great.

No worries, we can still view the total balance in foreign currency by going to the register. If you consider doing it, here are the steps to follow.

1. Go to the Accounting menu.
2. Within the Chart of Accounts tab, find the account and open it.
3. Click Account history under the Action column.

The other way around is exporting the Balance Sheet Detail report in Excel. From there, you can manually add columns for home and foreign currencies.
 

1. Open the report.
2. Make sure to set the reporting date correctly.
3. Customize it according to your needs before exporting it.
4. Then, click the export icon and select Export to Excel.

Still, I'd recommend sending your suggestion/insights about the report design. Our developers will evaluate your idea. Go to the Gear icon and select Feedback under the Profile column.

To manage your reports properly, we can use these articles:

• Customise reports in QuickBooks Online.
• Common custom reports in QuickBooks Online. 

You're always welcome to post your insights and concerns about currency in QuickBooks. We'll be around to help in any way that we can.

I sent feedback on this query and I am just wondering is there any update of how I can create a report which will show a listing of bank accounts at a particular date with both foreign and home currency balances

Thanks for getting back to this thread, @fiona-occaccount.

A report listing all bank accounts with balances in foreign and home currencies is still a work in progress. Rest assured that our engineers will view your request after sending feedback. 

In the meantime, you may consider utilizing the suggestions presented by my colleagues above.

You can also utilize this link to check the status and keep you in the loop on our progress of your request: Customer Feedback for QuickBooks Online.

As additional resources for managing and personalising results in QuickBooks Online, I'm including the following:

• Change the report accounting method.
• Popular custom reports in QuickBooks Online.

If you have any additional queries about creating reports in QuickBooks, please feel free to return to this thread. I'm here for you all the time. Stay safe!

Hi is there any update on a report being available which will show the foreign balance at a point in time.  As i said back in february when I originally posted on the issue, the facility was available in the desktop version so surely it should be relatively straightforward to include a "foreign Balance" field when customising reports.

Regards

Fiona

Thanks for getting back to get some updates, fiona.

For now, a report that shows foreign and home currency balances is unavailable in QuickBooks Online (QBO). I recognize the advantages that this feature may have for your company. However, since our product engineers handle product changes internally, we are unable to disclose any updates at this time regarding their efforts.

On the other hand, I added a handy resource you can refer to when customising a report in QBO: Customise reports in QuickBooks Online.

Keep me posted if you have more questions about reports or any QuickBooks-related matters. I'm always here to help. Have a good one!

Basically, the QBO is so inferior it is unreal.  I didnt want to convert but have been forced to and my worst fear has been realised.  If you have currency and stock the QBO is just not fit for purpose!  Desktop was the most brilliant package now you have totally ruined it.  I am lucky I am retiring in November and it can not come quick enough

Did the development team not think this through before launching?? Was QBOL put together by a bunch of hairdressers? We are ACCOUNTANTS, and quite frankly, QBOL cannot claim to be a professional accounting software without the ability to extract FOREIGN AMOUNTS AND FOREIGN BALANCE on multicurrency accounts. Please get this sorted ASAP!!

Did the development team not think this through before launching?? Was QBOL put together by a bunch of hairdressers? We are ACCOUNTANTS, and quite frankly, QBOL cannot claim to be a professional accounting software without the ability to extract FOREIGN AMOUNTS AND FOREIGN BALANCE on multicurrency accounts. Please get this sorted ASAP! In the mean time, I will be advising all my colleagues to migrate from QBDT to Sage or VT, where this functionality is available.

100% agree, unfortunately that’s just the tip of the ice berg.  Stock is now virtually unusable. You can’t find open PO,s for a stock item, if you have foreign currency stock then it leaves 1p  on the value and it takes forever to do something that used to take me a couple of seconds. 

I agree this is a core feature that should be available out of the box.

As a work around, you can view the current  balances in foreign currencies going through the Account List report 

Hi, My home currency id £ uk. We buy from several countries. The purchase ledger has option to run in currencies; however I've looked everywhere and cannot see an option to see foreign currency balances! Am I mistaken or QBO have messed up in a big way here?!

Any assistance would be helpful. thank you.

Each supplier account should show a running balance alongside the invoice/credits column. Is there any way to get this?

this is not a work around! I tried this, although you get the foreign amounts, guess what...if the say 20 invoices...it does't add up the balance!

Accounts payable should be available in foreign amounts. lack of availability of this feature as a standard means QBO will not standup to a simple accountants audit. So I cannor recommend QBO software as it stands now to anyone trading in multicurrency.

Thanks for joining this thread, @Arden7 

Each currency in QuickBooks Online has its own default Creditors (or Accounts Payable) account. You can run a report on each of these by navigating to the Cog > Chart of accounts > Search for Creditors (or Accounts Payable) > Select the drop-down beside the correct account > run report.

If there is a specific report or type of data that you're trying to view in foreign currency, please get back to us below. 

issues

(1) you can get to the same place more easily by going to the balance sheet and clicking on the foreign creditor. You then get a list of all transactions - in your home currency. Then you can click on the smaller icon and select foreign amount. HOWEVER this does not give me an aged accounts payable list in the foreign currency.

(2) what does this mean. It means I can never know how much I owe a supplier at any moment in time without doing further work such as exporting transactions from the individual purchases supplier account  to excel and then sorting and adding etc. and only then i can see in detail what i owe.

(3) there is no choice of a running balance in the individual supplier accounts - it means you have to do further manual work on a calculator before you can be sure of where you are.

Thank you so much - we'll have a go with this.

Hi there, Arden7.

The accounts payable list showing foreign currency is currently unavailable in QuickBooks Online. I recommend sending your suggestion about this feature to our product engineers. Here's how:

1. Select the Gear icon, then Feedback.
2. Enter your comments or product suggestions. Then select Next to submit feedback.

Moreover, I'll add this article to help you filter specific accounts or customers and format the layout of your data: Customise reports in QuickBooks Online.

Comment below if you have follow-up questions about running reports. I'll get back and help you. 

thank you, i have already contacted them. They replied yesterday with:

"I would like to inform you that we received the feedback about having an option like in QuickBooks Desktop wherein you can just press a single key or a shortcut key that will show all the purchase ledger on the system. This feedback of yours was submitted to our Product Development team. They will collate all feedback and will identify new features that will be available in the next monthly release. I sincerely apologise for not being able to find a workaround but I do hope this feature will be available very soon. I know a lot of customers also wanted to be able to do this inside the QuickBooks Online System."

I hope QBO get it sorted soon! It should not have happened in the first place.

This is so much bullsh*t!
Why would you gate keep this online?

The pain this has caused, with the lack of this very basic functionality, has caused so many reconciliation errors and headaches. For F sake, enable the feature online and save us all a whirlwind of pain and suffering please!