Was this page helpful?
Thank you!

Comments or suggestions?



Enter Email Address (optional)
email

How to make foreign deposits

How currencies work with QuickBooks deposits

Deposit To field

  • Represents the account the funds are being deposited into.

  • Uses the currency of the account selected. To determine the account's currency, click the drop-down menu in the Deposit To field and note the currency code listed for the account. You may need to expand the drop-down menu if the currency codes are not visible.

  • Any foreign or home account can be used.

Currency field

  • Determines the currency of the funds being deposited.

  • Must use same foreign currency as Deposit To account if a foreign Deposit To account is selected.

  • If a foreign currency is selected, foreign names and accounts added to the deposit must match that foreign currency.

Received From field

  • If a foreign name is selected, it must use the same currency as the Currency field.

  • This field is optional unless the From Account field contains an accounts receivable or accounts payable account.

From Account field

  • If a foreign account is selected, it must use the same currency as the Currency field.

  • Contains the offsetting account for the funds being deposited.

Deposit foreign currency funds or payments

Into a home currency account

  1. Select your home currency Deposit To account.

  2. In the Currency field, select the foreign currency of the funds to be deposited.

  3. Enter the exchange rate.

  4. Add the foreign items to deposit. We recommend that you limit the currency of funds to deposit to one currency.

  5. If you enter cash back information, you must use a foreign cash back account with the same currency as the Currency field.

Into a foreign currency account

  1. Select the foreign currency Deposit To account.

  2. The Currency field will default to the currency of the Deposit To account and must match that account's currency.

  3. Enter the exchange rate.

  4. Add the foreign funds to deposit. We recommend that you limit the currency of funds to deposit to the currency of the deposit set in the Currency field.

  5. If you enter cash back information, you must use a foreign cash back account of the same currency as the Currency field.

Deposit home currency funds

Into a foreign currency account

QuickBooks doesn't support depositing home currency funds into a foreign account.
To move home currency funds into a foreign account, either transfer funds or create a general journal entry.

Into a home currency account

To deposit home currency funds into a home currency account, select your home currency for the Deposit To, Currency, From Account, and Cash back goes to fields.
The exchange rate field is grayed out for all home currency transactions and uses a value of 1.

KB ID# H_DEPOSIT_MESSAGE_EXAMPLES
12/5/2016 6:38:31 AM
QYPPRDQBKSWS09 9138 Pro 2017 72a696