Thank you for getting back to us here in the Community, @JohnnyLongstaff. I'll be sharing some insights about using multi-currency in QuickBooks Online.
You can assign a currency to bank and credit card accounts using the Multicurrency option. Your income and expense account always uses your Home currency.
Customers, suppliers, bank and credit card accounts, accounts receivable, and accounts payable can all have a single currency assigned to them. To use a different currency in transactions, you'll need to create a separate account.
You must have Multicurrency switched on in your Advanced options to add a foreign currency account to your Chart of Accounts.
Here's how:
- Go to the Settings menu.
- Select the Chart of Accounts option.
- Make a new selection.
- Select the appropriate Account Type and Detail Type in the Account dialog.
- Give the new account a name and a description, if desired.
- From the Currency dropdown option, choose the currency to be assigned to the account.
- Click Save and Close.
Here are some articles you can check to learn more about using multi-currency in QuickBooks Online:
I'm also adding this article as your reference in adding transactions in foreign currency: Add transactions in a foreign currency.
Let me know if you have additional questions about using multi-currency in QuickBooks Online. I'm always here to help.
