How to Enable Multi-Currency in QuickBooks Online

The Multi-Currency feature lets you record transactions in foreign currencies while keeping a single home currency for reporting. It suits businesses that buy from international suppliers or sell to customers abroad.

Step 1 – Open Settings

Click the Settings (gear) icon in the upper-right corner of QuickBooks Online.

Figure – Opening Settings

Step 2 – Open Account and Settings

Under YOUR COMPANY in the Settings menu, select Account and settings.

Figure – Opening Account and settings

Step 3 – Open the Currency Settings

A Advanced – Select the Advanced tab to reach company-wide accounting preferences.

B Currency – Scroll to the Currency section to see your home currency and the current Multicurrency status.

C Edit – Click the Edit icon to open the section for changes.

Figure – Opening the Currency settings

Step 4 – Turn On Multicurrency

Check that the Home Currency shown is correct, then switch Multicurrency on. QuickBooks lists what changes once the feature is active: it cannot be turned off, the home currency is locked, extra currency fields are added throughout, and a small number of features stop being available.

Figure – Switching Multicurrency on

Step 5 – Confirm and Save

Currency fields now appear on customers, suppliers, bank accounts and transactions, and you can add the currencies you trade in under Settings › All lists › Currencies.

A I understand I can’t undo Multicurrency – Tick the box to confirm you accept that the change is permanent.

B Save – Click Save, then Done, to activate the feature.

Figure – Confirming and saving the change