Banking

Your patience has been extremely important, and I know that resolving this issue is quite challenging, VincentHS.

First, we must transfer the funds to your home currency account. Then transfer it to a different currency. Moving the funds uses one foreign currency at a time. You can follow these steps to set up a foreign currency conversion account:

1. Go to the Gear icon.
2. Choose Chart of Accounts and then select New.
3. For the Account type, select Cash at bank and in hand.
4. For the Detail type, choose Cash on hand.
5. Name the account "Foreign currency conversion".
6. Enter the description like "transferring between multicurrency accounts".
7. Select the home currency.
8. Hit Save and Close.

Convert the funds to your Home currency. QuickBooks will automatically handle the conversion when you transfer the funds to the account you created.

1. Select +New.
2. Click Transfer.
3. Choose the original account from which you want to transfer funds.
4. Click the currency of the original account.
5. Enter the amount you wish to transfer.
6. In the Transfer Funds section, select the Foreign currency conversion account you created.
7. Hit Save and Close.

Now, we'll transfer the funds to the desired currency. Here's how:

1. Select + New. 
2. Select Transfer. 
3. In the Transfer Funds section, choose the Foreign currency conversion account.
4. Select the desired currency you wish to convert to.
5. Enter the amount. 
6. In the Transfer Funds section, choose the correct account in the desired currency where you want to deposit the funds. 
7. Select Save and Close.

After these steps, check the transfer. Follow these steps:

1. Go to Banking.
2. Select the Bank Transactions tab. 
3. Select the account where you transferred the funds in the desired currency. 
4. Double-check the account balance to make sure it’s accurate. 

You can also check in the your Chart of accounts: 

1. Go to Transactions. 
2. Select Chart of Accounts. 
3. In the search bar, enter the name of the desired currency account. 

Double-check the account balance and ensure it has been deposited in the correct currency. By following this approach, you'll have a clear record of all the multicurrency funds you've converted, right in your Chart of Accounts.

For easy access, you can refer to this article for frequent inquiries about multicurrency: Frequently asked questions about Home currency adjustments.

Keep me posted if you still have further questions about multicurrency. Take care.