Conducting business with clients outside of Canada can be a normal part of running a company. QuickBooks Online Essentials and Plus offers multicurrency capabilities that will help you record transactions in foreign amounts. I'd be happy to explain what to do if you need to change the currency of one of your suppliers.
You can assign a currency to most types of accounts, including customers, suppliers, bank and credit card accounts, accounts receivable, and accounts payable. You can only assign one currency to each account or contact name, and you have to add a new account for each different currency that you will use in transactions.
Once your supplier has been set up in QBO, you're unable to change their currency regardless of whether or not you've created transactions for them yet. If your supplier wants to bill you in a different currency, you'll have to set them up as a new supplier.
Keep in mind that the system won't allow you to create a second supplier with the same name, so you'll have to make a slight adjustment to the display name (e.g. Supplier CAD vs. Supplier USD).
To make a new supplier, click the Expenses tab > Suppliers > New Supplier.
To make your current supplier inactive, click the Expenses tab > Suppliers > click the drop-down menu under the Action column > select Make Inactive.
That's all there is to it. I hope this helps get you back on track. If you have any other questions, please don't hesitate to reach out to our tech support team.
Have a great day.
Hi there m-taksh and thanks for joining in on this thread. We appreciate your feedback and take it seriously. If you'd like to submit more feedback formally, I encourage you to navigate to the Gear icon, and choose Feedback. This is where you can share your thoughts with the team that is responsible for implementing product updates and new features. It sounds like you might be referring to the inability to change a supplier's currency, but if there's something else that you're having trouble with I'd love for you to reply and share some additional details. Perhaps it's something I'll be able to give you a hand with. Until then, take care and have a great day!
This is so stupid. Why should I not be able to delete a vendor that has no transactions with it? If not transactions have been made, I should be able to either (1) change the currency or (2) delete the vendor and recreate it with the right currency.
Quick Books has way too many stupid limitations that only create more hassle for customers.
Hi there harringm,
I appreciate your feedback and can see that being able to completely delete a supplier would be a feature that would be able to help you and your business. What I can recommend is leaving feedback in the system by clicking on the Gear icon, then Feedback. Comments made in this section are taken into consideration by our developers when designing new features for QuickBooks Online.
If you have any other questions, feel free to post them here.