![]() You can delete currencies from this list if you will never use them or make them inactive as with other lists in QuickBooks 3 Changes in the chart of accounts QuickBooks also adds a special expense account to the chart of accounts called Exchange Gain/Loss. ![]() However the rate can be changed on individual transactions The Exchange rate is usually quoted in Australia as 1 AUD = 0.88 USD, however in QuickBooks it is recorded the other way around i.e. When enabled, you can assign the appropriate currency to various accounts, including customers, vendors, banks, credit cards, accounts receivables, accounts payable and more. This can be changed if necessary 2 Setting Exchange rates Once the preference is turned on there is a new list under the Lists menu for the exchange rates List > Currency List QuickBooks will bring in default rates so you should change the rate to be as per the current rate for the currencies that will be used. Multicurrency is a feature in the Quickbooks accounting software both desktop and online versions that allows you to track multiple currencies. 2 Once multi currency is turned on, it can never be turned off so it is recommended not to turn it on unless you intend to use it Once you have accepted the message the home currency will default in to AUD. Learn how to set up multiple currencies in QuickBooks Desktop Pro, Premier And Enterprise and update your latest exchange rate easily.Join us.
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