QuickBooks Online Multi Currency Accounts Payable Transactions
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- Опубликовано: 5 ноя 2024
- This QuickBooks Online Multi-Currency Feature video is a training tutorial showing you how to record Accounts payable related transactions when using the multi-currency feature with an overseas vendor who provides service and requires that they bill you in their own currency. Then, you use the enter bill feature to enter the bill for the international vendor for the overseas service you received. Your accounts payable will be a different accounts payable account for each separate currency that you have unpaid bills with. Any exchange gain or loss will be recorded without needing a revalue currency adjustment. This is thru even if there is a difference between the daily exchange rate on the day of the bill from the day of bill’s payment. If there is a difference in the daily exchange rate when you pay the bill, then you will have an exchange gain or loss as a result of recording the bill payment. You will be recording the bill payment amount in the foreign, non-home currency, to pay down the open bills. This feature works without a revalue currency adjustment before recording of bill payment and the exchange gain or loss will be accurate.
Everybody who does international business, and uses QuickBooks Online, will need this RUclips playlist course. If your company converts currency when getting paid from foreign customers, or even exchange currency when you transfer or pay in another currency to international vendors, then you need to watch all these videos to be totally sure that you have an understanding of every possible idea / concept needed to know how to manage the multi-currency feature in QuickBooks Online. You will also learn and experience every possible transaction type that you could imagine when making transactions with a multiple of currencies. You will always see the U.S. dollar equivalent of the foreign currency in your QuickBooks reports. You will learn when international currency rates fluctuate, QuickBooks Online will record the realized gain or loss after most multi-currency transactions. You can revalue with an adjustment of the currency in terms of the dollar or, before reporting, let QuickBooks online calculate the unrealized gain or loss on changing exchange rates of international currency.
You don’t need any previous knowledge of: accounting, computers or QuickBooks Online to enjoy studying this fun and easy QuickBooks Online Multi-Currency Playlist course. Almost as soon as you start, this course will give you everything you need for you to manage QuickBooks Online Multi-Currency Feature
The full QuickBooks Multi Currency Online play list is here:
• QuickBooks Multi Curre...
The full QuickBooks Multi Currency DESKTOP play list is here:
• QuickBooks Multi Curre...
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Hello to all of my QuickBooks fans using the multi-currency feature in QuickBooks Online!!
This QuickBooks Online training tutorial will show you how to record accounts payable transactions with more than 1 currency. You will still have a chance to have an exchange gain or loss if you owe money to an overseas vendor before paying for international service
I hope you will click “like” on any video that helped you and I hope you will subscribe!
-Mark
Very helpful, Mark! I have vendors all over the world and exchange rates have always been a challenge. Thanks for taking the time to dig into the details. Subscribed!
Thank you very much
I like making videos and helping people who appreciate the sacrifice
I hope you will click like after watching each one and thank you very much for subscribing
Stay tuned because the best content is yet to come
Mark
Hi Mark, thanks for this very helpful video. Just a few question, I use QB Onliine. And my home currency is USD and we got an invoice from our supplier that is in USD, but we paid them using our EUR bank account. By the way this is a prepaid expense transaction, Now we have problem entering in the Expense window the error says something like it should only use home currency account to make the expense entry work.
The QB support team said that I can create a dummy USD bank account to reflect the payment and just transfer the related amount later on.
Appreciate your advice please? Thanks.
A very happy to help you and I'm glad the video is helping you.
I actually did not read your full question.
I think the best thing for you to do, before you re-aask your question more concisely, is to just take a little time to watch the playlist in the proper order.
I promise it will not take you too long
You see I'm absolutely sure that at least 90% of what you're asking, if not all, will be answered automatically if you just watch everything in the right order and understand the right way how to use the multi currency feature in every case.
ruclips.net/video/x78cZvo9uEs/видео.html
I promise that if the playlist watched properly does not answer your question automatically, then you will be able to reaask your question in a more concise way and I do absolutely promise I will help you.
Thanks for being patient but it's hard for me to read everybody's story and give everybody help when the end result is 90% of what they're asking for is always in the video if they watch the playlist carefully.
Thanks for understanding and stay in touch and I look forward to your follow up.
Mark
Very helpful. Thanks!
Glad it was helpful!
I hope you will click like after watching each one to help support the free channel for everyone and please subscribe
Mark
Hi, may I know how to settel if the bill is SGD, the home currency is USD and use the EUR bank account paid
Thank you for asking
If you click in the top right corner of this video you'll get the link to the full multi currency playlist.if you watch It in proper order.
It will be clear and it will answer your question and you will have everything you need.
Mark