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Drew_E
Level 3

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?

I have QBO multicurrency turned on. I have looked through the list of available reports including: Account List, Balance Sheet Detail, and General Ledger. I need to run a report that shows how much cash is in my 'cash in hand' accounts at the beginning of April and then again at the end of April. My home currency is USD and these accounts are in a local currency.

I can't find any report in QBO that will show me these accounts values for this date range in their local currency. This is an important report that we need to go along with our cash count system. The 'Account List' report does not allow you to specify a date. It seems this is similar to another issue posted: https://quickbooks.intuit.com/learn-support/global/reports/re-in-qbo-can-i-run-a-balance-sheet-detai...

I am surprised that QBO doesn't fully support multicurrency. Without the ability to run reports showing how much cash is in 'cash on hand' accounts I think that QBO doesn't fully support multicurrency. Why does QBO support setting up a 'petty cash' system but not allow reporting of that 'petty cash' system that is useful when the currency of that system is in a currency other than the home currency. Obviously seeing the USD equivalent isn't useful when doing cash counts or creating reports to document cash counts in a foreign currency.

This was possible in QBD by showing the 'Foreign Balance' column but QBO doesn't support a 'Foreign Balance'. This issue would be easily resolved by adding a 'Foreign Balance' column to either the 'Balance Sheet Detail' report or the 'General Ledger' report.

8 Comments 8
Catherine_B
QuickBooks Team

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?

Hello there, Drew_E. 

 

I do appreciate your for the detailed information about your question, and I looked into the attachments you linked in this post. We're unable to pull up a report that shows the foreign balance of an account. 

 

Meantime, we can run the Balance Sheet Detail report to  as suggested by my colleagues and add an additional Foreign Amount, Exchange Rate, and Currency. Then, we can export it to excel and manage it from there. 

 

Here's how to run the report: 

  1. Go to the Reports menu. 
  2. Enter and select in the search field, Balance Sheet Detail.
  3. At the upper-right, click the Customize button. 
  4. Filter the date range.
  5. Select Rows/Columns and check the Exchange Rate, Foreign Amount and Currency boxes. 
  6. Click Run report to refresh the data. 
  7. To export it to Excel, click the export icon at the upper-right of the report and click Export to Excel

From there, we can manually calculate the foreign balance of the account or transaction. 

 

You can always mention me if there's anything else that you need help with. You take care always!

Drew_E
Level 3

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?

Actually, that is incorrect information. It is not possible to manually calculate it from the report because there is no exchange rate for the beginning balance on that report. If you can't calculate the beginning balance in the foreign currency from the report then how can you use math to calculate the ending balance in a foreign currency?

Adrian_A
Moderator

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?

I appreciate you for getting back to us, Drew_E.

 

For now, we're unable to run a data that will display the foreign balance of an account. What we can do is to run the Balance Sheet Detail report as what Catherine_B shared above.

 

With that being said, I'll let our engineers know your feedback on this. This way, they'll review it and may be added as one of our additional features.

 

Feel free to get in touch with us if you still need our help. Stay safe!

Flyingkiwi
Level 4

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?


@Adrian_A wrote:

I appreciate you for getting back to us, Drew_E.

 

For now, we're unable to run a data that will display the foreign balance of an account. What we can do is to run the Balance Sheet Detail report as what Catherine_B shared above.

 

With that being said, I'll let our engineers know your feedback on this. This way, they'll review it and may be added as one of our additional features.

 

Feel free to get in touch with us if you still need our help. Stay safe!


Forgive me for resurrecting an old post. This is something that has frustrated me, but my workaround was to check the Chart of Accounts (CTRL-A) which will at least give me the numerical foreign currency balance for an account in that currency, as of 'now' 
You can modify the report and add home currency column... but cannot change the report date.

Santa Monica
Level 3

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?

Checking in.  Has this been resolved?

AlexV
QuickBooks Team

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?

Hi Santa Monica!

 

Thanks for joining this thread. Let me help you in running a multicurrency report.

 

As mentioned by my colleagues, QuickBooks Online doesn't have a specific report that shows the foreign currency balance of an account. I'd encourage you to send feedback about this to our developers and let them know that you need such report. Simply click the Gear icon and select Feedback.

 

As a workaround, you'll want to run a quickreport of your bank account. From there, you can add a column for the foreign amount. Follow these steps:

  1. Go to the Accounting menu and select Chart of Accounts.
  2. Locate the foreign bank account. Under the Action column, select Run report.
  3. Click the small Gear icon next to the Export button and check the Foreign Amount tickbox.
  4. Tap Run report to reload the report.

 

You also want to export the report to an Excel file and make some changes and manual calculations. Do you need to personalise your financial reports? Please check this link: Customise reports in QuickBooks Online.

 

Keep on posting here if you have other concerns. Take care always!

Santa Monica
Level 3

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?

Hi - the workaround doesn't provide a balance so I have to export lifetime data to excel and sum up the transactions. Am I correct?

JessT
QuickBooks Team

Will QBO ever add the ability to run a report showing the foreign currency cash in my 'cash in hand' accounts for a specific date range?

Hi Santa Monica,

 

Yes, you're right. Some reports don't show a  total amount, so you'll have to export the report to Excel to get the sum.

 

If you have other concerns, feel free to go back to this thread. Take care and have a good day!