Enabling Multicurrency settings
In this section, you will learn how to do the following:
- Enable Multicurrency
- Set up customers and suppliers that operate in foreign currencies
- Set up a bank account in QuickBooks that uses a foreign currency
Within the Advanced section of Account and Settings, you will find the option to enable Multicurrency using a little slider button. With the toggle enabled, the Multicurrency settings will appear, as shown in the following screenshot:
Figure 7.1 – Multicurrency settings
Check that your Home Currency is correct before saving the settings – this is the currency your company generally operates in and needs to report against. It cannot be changed later.
Important Note
Multicurrency is a permanent setting that cannot be disabled once the feature has been enabled. If you don't have many foreign currency transactions throughout the year, you may find that manually converting values...