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: Set method of pricing inventory and service items

Step 6: Add foreign prices to  inventory and service items

Step 7: Add foreign vendors

Step 8: Add foreign customers

Before you can perform this task

Switch to single-user mode (Premium)

To set up foreign currencies in your company:

  1. In the Home window, on the Setup menu, choose Settings.
  2. On the left side of the window, click Company and then Currency.
  3. In the Home Currency section, enter the settings for your home currency.
  4. Select the Allow Transactions in a Foreign Currency option.
  5. Select an expense account to Track Exchange and Rounding Differences.
  6. Click OK.

What do you want to do?

Add or modify a foreign currency

Set up reminder to update a foreign currency

Update the exchange rate for a foreign currency

Learn about using foreign currencies