This is an interesting question. I’ll gladly clarify the situation and get you back on track. Multicurrency is an awesome feature of QuickBooks Online that lets you invoice your international customers in a few easy steps. To be able to invoice a customer in USD, a few conditions need to be met:
To do so, follow these steps:
You’ll be able to bill this customer in USD going forward. Keep in mind that each customer can only be billed in one currency.
To know more about the multicurrency feature, check this community article: https://quickbooks.intuit.com/learn-support/en-ca/manage-customers-and-income/about-multicurrency/01....
Let me know if you have any other questions.
Thanks for getting back to me. I can bill my customer in USD but the problem is setting up a service that is in USD. Right now, when I try to bill a US customer at a specific USD rate, say $100 USD/hr, I have to find the conversion rate, calculate a CDN rate based on the conversion, put the CDN rate in the invoice and hope it matches the USD rate I want to charge. The next time I try to invoice, if the conversion rate has changed, then the USD rate will be $99.80 or $100.45. I have to set up a new CDN rate each time to end up with the correct USD rate. There has to be a better way of doing this.
I see what you mean. Creating products and services with USD pricing is not an integrated feature of the system. That being said, you can easily input rates and amounts in USD while creating the invoice without doing any conversion calculations. To do so, click on the item line of the service and change the rate to the desired USD amount (check screen shot below). The invoice will adjust automatically.
I hope this helps.