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user94642
Level 1

Is there a way to add "Interest Earned" and "Bank Charges" categories into the COA in a different currency than your base? We have QBO Essentials with multi-currency.

 
3 Comments 3
JamesM
QuickBooks Team

Is there a way to add "Interest Earned" and "Bank Charges" categories into the COA in a different currency than your base? We have QBO Essentials with multi-currency.

Hi there, 

 

I'm happy to learn you're taking advantage of the Multi-currency feature to streamline your business. I'd be happy to answer your question so you can get back to doing what you enjoy. 

 

To add an account to your Chart of Accounts, follow the steps below:

  1. Go to Settings ⚙, then select Chart of Accounts.
  2. Select New to create a new account.
  3. In the Account Type ▼ dropdown menu choose an account type.
  4. In the Detail Type ▼ dropdown, select the detail type that best fits types of transactions you want to track. Learn more about detail types.
  5. Give your new account a name. You can use the info under the detail type to add a name that fits.
  6. Add a description.
  7. If you’re adding a sub-account, select Is sub-account and then enter the parent account. If you need help, learn more about parent accounts and subaccounts.
  8. Choose when you want to start tracking your finances. In the Unpaid Balance field, enter the amount in the account, and determine the as of date. Enter today's date if you want to start tracking immediately.
  9. Select Save and Close.

When you follow the steps above, you'll get an option to select a currency for the account you're adding. Give this a try and let me know if you have questions. You're also more than welcome to reach out to our support team using this link here. One of our agents will be happy to take a closer look at your account and provide the support you need. 

 

I'll be one message away in case you need anything.

user94642
Level 1

Is there a way to add "Interest Earned" and "Bank Charges" categories into the COA in a different currency than your base? We have QBO Essentials with multi-currency.

Thanks for responding. However when you try to add those two specific categories, "Interest Earned" and "Bank Charges", there is no option to choose the currency. It defaults to my base currency which is CAD, not USD. 

JamesM
QuickBooks Team

Is there a way to add "Interest Earned" and "Bank Charges" categories into the COA in a different currency than your base? We have QBO Essentials with multi-currency.

I see what you're saying. QuickBooks allows you to use Multi-currency on certain accounts. This primarily excludes any income and expense accounts. I can see how useful it would be to have the option to add those accounts using a different currency on your accounts. I recommend sending feedback about this to our engineers by clicking the Gear icon and looking for Feedback. New product ideas and improvements are largely based on the feedback we get from users like you. 

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