# How to Turn On Multi-Currency in QuickBooks Desktop: Step-by-Step
Managing transactions in multiple currencies is critical for businesses with international vendors, customers, or bank accounts. If you’re using QuickBooks Desktop and need to handle payments, invoices, or bills in foreign currencies, you’ll need to enable the multi-currency feature.
In this comprehensive guide, we'll walk you through:
What multi-currency means in QuickBooks Desktop,
How to turn it on step-by-step,
Best practices for managing currencies, and
How to get expert help by calling 1-888-394-9046.
Whether you're a small business or a growing international enterprise, enabling multi-currency in QuickBooks Desktop can simplify your accounting process and reduce manual work.
Need help right away? Speak to a QuickBooks™ expert at 1-888-394-9046 now.
✅ What Is Multi-Currency in QuickBooks Desktop?
The multi-currency feature in QuickBooks Desktop allows businesses to:
Send invoices in a foreign currency,
Record purchases or payments made to international vendors,
Manage bank accounts in other currencies,
Track exchange rate gains/losses automatically.
Once multi-currency is turned on, you’ll assign a default currency to each customer, vendor, and account. QuickBooks will then handle all future transactions in that currency.
Got questions? Call 1-888-394-9046 for personalized help from a certified QuickBooks expert.
🔐 Important Notes Before You Turn On Multi-Currency
Before activating multi-currency in QuickBooks Desktop, keep in mind:
You cannot turn it off later. Once multi-currency is enabled, it’s permanent.
Back up your company file first.
Exchange rates can be auto-updated or manually entered.
You can’t combine foreign currencies in reports using single currency view.
Still unsure? Let a QuickBooks™ advisor guide you. Call 1-888-394-9046 anytime, 24/7.
🛠️ How to Turn On Multi-Currency in QuickBooks Desktop: Step-by-Step
Follow these steps to enable multi-currency:
🔹 Step 1: Backup Your Company File
Before making major changes, always back up your data.
Go to File > Back Up Company > Create Local Backup.
Follow the prompts to save a local backup.
If you need help backing up your data, dial 1-888-394-9046 now.
🔹 Step 2: Enable Multi-Currency
Here’s how to activate the feature:
Open QuickBooks Desktop.
Go to Edit > Preferences.
Select Multiple Currencies from the left-hand menu.
Click the Company Preferences tab.
Check the box that says Yes, I use more than one currency.
From the dropdown, select your home currency (typically USD for U.S.-based businesses).
Click OK to confirm.
QuickBooks will prompt you to confirm your decision. Remember, this action is irreversible. If you're uncertain, call 1-888-394-9046 for expert guidance before proceeding.
🔹 Step 3: Add Foreign Currencies
After enabling multi-currency, follow these steps to add other currencies:
Go to Lists > Currency List.
Click the Currency drop-down and select New.
Choose the foreign currency you need (e.g., EUR, CAD, GBP).
Click OK.
Need help finding or adding a specific currency? QuickBooks support is available at 1-888-394-9046.
🔹 Step 4: Assign Currencies to Customers and Vendors
You’ll now assign a specific currency to each:
For Customers:
Go to Customer Center.
Double-click the customer.
In the Currency field, choose the desired currency.
For Vendors:
Go to Vendor Center.
Edit vendor details and select their currency.
Once assigned, all future transactions for that entity will default to that currency.
For assistance, dial 1-888-394-9046 and a QuickBooks Desktop expert will walk you through.
🔁 How Does QuickBooks Handle Exchange Rates?
QuickBooks Desktop comes with a built-in exchange rate table that updates automatically (if connected to the internet). You can also enter your own rates manually:
Go to Lists > Currency List.
Right-click on a currency > Download Latest Exchange Rates, or manually enter them.
Exchange rates are applied during:
Sales
Bills
Payments
Journal entries
To learn how to manage real-time exchange rate fluctuations, consult with a pro at 1-888-394-9046.
⚙️ Working with Multi-Currency Transactions
Once multi-currency is enabled, here’s what you can do:
✅ Create Invoices in Foreign Currency
Go to Customers > Create Invoices.
Choose a customer with a foreign currency.
Amounts will appear in that currency.
✅ Pay Foreign Vendors
Go to Vendors > Pay Bills.
Vendors using foreign currency will show bills in that currency.
✅ Record Foreign Bank Accounts
You can also create bank or credit card accounts in a foreign currency:
Go to Chart of Accounts > New.
Choose Bank or Credit Card.
Select the foreign currency.
Need hands-on help? Call 1-888-394-9046 and an expert will walk you through every transaction type.
📊 Reporting in Multi-Currency Mode
Once multi-currency is enabled:
Reports such as Profit & Loss and Balance Sheets will convert foreign currencies to home currency.
Exchange rate differences may show as Unrealized Gain or Loss accounts.
If you find discrepancies or need help interpreting reports, contact support at 1-888-394-9046.
🧠 Expert Tips for Using Multi-Currency in QuickBooks Desktop
Always update exchange rates before entering large transactions.
Use unique identifiers for foreign currency accounts.
Avoid changing customer/vendor currency after transactions are recorded.
Review Currency List monthly for exchange updates.
Want to optimize your setup? Call 1-888-394-9046 for advanced configuration help.
🛑 When NOT to Use Multi-Currency
Multi-currency may not be the right feature if:
You only rarely deal with foreign payments.
You want to switch back to single currency later (this is not possible).
You need consolidated reports in multiple base currencies.
If you're unsure whether to enable it, talk to a QuickBooks ProAdvisor at 1-888-394-9046 before activating the feature.
📞 Why Call 1-888-394-9046 for Multi-Currency Help?
Here’s why thousands of users call 1-888-394-9046 for QuickBooks Desktop support:
24/7 availability
Certified ProAdvisors
Remote assistance available
Help with setup, configuration, and errors
Safe, secure, and confidential support
Whether you’re enabling multi-currency or correcting a currency mismatch, QuickBooks experts at 1-888-394-9046 are ready to help.
🧾 Real-World Issues Solved by Calling 1-888-394-9046
Here are some scenarios where users benefited from calling:
Problem: Vendor set to the wrong currency.
Solution: Guided correction with journal entry support via 1-888-394-9046.
Problem: Error while recording bank deposits in foreign accounts.
Solution: Phone guidance helped fix account mapping errors.
Problem: Reports showing inaccurate converted amounts.
Solution: Exchange rate and rounding issue resolved through remote support at 1-888-394-9046.
📌 Conclusion: Turn On Multi-Currency in QuickBooks Desktop with Confidence
Activating multi-currency in QuickBooks Desktop gives your business the flexibility to manage global customers and vendors efficiently. The setup may seem intimidating, but with the right steps—and expert help at 1-888-394-9046—you’ll be handling international transactions like a pro in no time.
Need assistance right now?
📞 Call 1-888-394-9046 and speak to a live expert 24/7.
Don’t wait until an error disrupts your accounting. Get personalized help by calling 1-888-394-9046 today.
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