Turn On Foreign Currency Transactions
To set up your company to conduct
business in a foreign currency
Step 1: Add exchange gain/loss account for foreign currencies
Step 2: Set up foreign currencies
Step 3: Add foreign currency bank accounts
Step 4: Choose linked accounts for foreign currency transactions
Step 5: Link a currency to a credit card to track customer credit card sales
Step 6: Set method of pricing inventory and service items
Step 7: Add foreign prices to inventory and service items
Step 8: Add foreign vendors
Step 9: Add foreign customers
To set up foreign currencies in your company:
- In the Home window, on the Setup menu, choose Settings.
- On the left side of the window, click Company and then Currency.
- In the Home Currency section, enter the settings for your home currency.
- Select the Allow Transactions in a Foreign Currency option.
- Select an expense account to Track Exchange and Rounding Differences.
- Click OK.
What do you want to do?
Add or modify a foreign currency
Set up reminder to update a foreign currency