1 - Does Quickbooks Online Support Multicurrency?
You can setup multicurrency if you have customers or suppliers using foreign currencies.
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- Click the Gear icon next to your company name.
- Under Settings, choose Company Settings.
- Choose Advanced.
- Click the Pencil icon under Currency.
- First, make sure your Home Currency is correct and change it if needed. You will not be able to change it after turning on multicurrency.
- Check the box next to Multicurrency.
- Read the important notes about turning on Multicurrency. Once you turn on Multicurrency:
- You can’t turn it off
- You can’t change your home currency
- Extra fields, columns and more are added to QuickBooks
- Check the box to indicate that you understand you can't undo Multicurrency.
- Click Save.
2 - What Is A Home Currency Adjustment?
Home currency adjustments change the home currency value of your foreign balances. These adjustments affect your balance sheet accounts. We recommend that you work with an accounting professional before entering these adjustments.
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