This is great, because it makes handling exchange rate calculations simpler, you just need to specify the exchange rate at the time of each transaction. ![]() In case you weren't aware, you may also have problems with inventory conversion because QBD uses weighted average and QBO use FIFO. QuickBooks maintains the foreign debits and credits as well as their value in the home currency for every foreign transaction. To fix this, you’ll need to manually change the currency of your balance in QuickBooks. ![]() Changing an exchange rate in QuickBooks can be beneficial if you are transferring money internationally, adjusting prices of items or if you want to see what your return will be for exchanging certain currency.
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