Banking
Let me guide you in entering the exchange rates in QuickBooks Online (QBO), Brightfarm.
Before anything else, please know that QuickBooks uses exchange rates from IHS Markit. If you need to enter your own exchange rate, I can help you manage it by updating the numbers in your currencies list. Refer to the following steps below.
- Go to the Gear icon, then select Account and Settings.
- Select Advanced.
- In the Currency section, select the Manage Currencies link.
- Find the exchange rate you want to update and click Edit currency exchange in the Action column.
- Select Save.
After saving the changes, the currencies list displays the updated exchange rate, the date and time of the update, and the identity of who made the update.
Additionally, QuickBooks uses exchange rates to show how much a foreign currency transaction is in your home currency value. Learn how this works by visiting this article for more details: Learn About Exchange Rates in QuickBooks Online.
Please keep us posted if you have other queries about entering currencies. I'm always here to assist. Stay safe.
