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Multicurrency and files updated from earlier versions

If you've updated your company file from an earlier version of QuickBooks, you can start using the multicurrency feature at any time.

When you turn on multicurrency, the following changes will be made to your customers, vendors, and accounts.

Home currency

When you turn on multicurrency, you'll select your home currency. In most cases, the home currency is the US dollar (USD).

Important: If you choose a home currency other than the US dollar, Intuit services such as payroll and online banking will be unavailable as these services are only available in US dollars.

Existing customers, vendors, and accounts

  • Your home currency is assigned to all existing customers, vendors and accounts.

  • You can't change the currency of a name/account if there are transactions recorded for them. (See adding foreign names/accounts below.)

  • Continue to use these home currency names/accounts to close all open balances.

Adding foreign customers, vendors, and accounts

  • After you turn on multicurrency, you can assign a foreign currency to new customers, vendors, and some accounts. Existing names and accounts with transactions are assigned your home currency.

  • Add a new, separate customer, vendor, or account for each currency you want to record transactions in.

  • Only one currency can be assigned to each customer, vendor, or account so you'll have one entry for each name/account for each currency.

See also

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