I would like a balance sheet in a different currency

Financial reports are always presented in your home currency, ryan183. We can only include or filter the appropriate currency and its exchange rate after running a transaction report.

If you haven’t already enabled the Multicurrency feature, you’ll need to do that first. With this feature, you can manage and view transactions and balances in multiple currencies.

To enable multicurrency, follow these steps:

1. Select the Gear icon, then go to Account and settings.
2. Navigate to the Advanced tab.
3. In the Currency section, click the Edit icon (pencil).
4. Toggle on the Multicurrency box and confirm that you understand this action cannot be undone.
   
   
   
   
5. Click Save, then Done.

Please note that once the Multicurrency feature is enabled, it cannot be disabled. When multicurrency is active, transactions with foreign customers or vendors will be recorded in their respective currencies. However, reports such as the Balance Sheet will still display totals in your home currency. QuickBooks automatically handles currency conversions using either the exchange rates you’ve set manually or those it updates automatically.

Since the Balance Sheet and other financial reports display amounts only in your home currency, as a workaround, you can generate a transaction report, such as the Transaction Detail by Account. This report will include foreign currency amounts along with their corresponding exchange rates.

Here’s how:

1. Go to the Reports menu and locate the Transaction Detail by Account report.
2. Set the Reporting period to your desired date range.
3. Click the Columns field and check the boxes for Foreign Amount and Exchange Rate.
   
   
   
   
4. When finished, you can save the report by clicking the Save As button.

If you have additional questions or need assistance with QBO, feel free to leave a comment below. We’re here to help anytime!