Cloud Cart Connector supports multi-currency with QuickBooks Online CA, UK, and AU. If your order management system sends us a currency code, we can assign it to a QuickBooks vendor or customer. All transactions under this vendor or customer will have the order's currency code. Otherwise, we use the default currency code for your QuickBooks.
Cloud Cart Connector can enter the exchange rate between your home currency and the order's currency. Cloud Cart Connector retrieves today's exchange rate and inserts it onto the order. To enable this feature, check the box for for multi-currency:
Once the orders are entered into QB, here is the end result:
To see an example of QBO Canada with a GBP transaction, see the attachment at the end of this article.
QuickBooks Online supports one currency per vendor or customer. You cannot have an order in GBP for a vendor paying in EUR.
You must set-up multi-currency in QuickBooks. On the left, click currency center. Click the blue button asking for set-up, then add your currencies.
If your customers and vendors are using USD instead of your currency, you cannot update the record directly. You must make the record inactive and add it again as a new vendor:
- Click name link on the customer or supplier.
- On the top, click edit.
- On the bottom of the dialog box, click make inactive.
- Add the customer or vendor with the same name again, but change the currency.
- You will see no bills or order under the new vendor, since all transactions are associated with the old vendor.
- Rerun the same transactions through QuickBooks Online again. This will associate the transaction with the vendor you just created.
Our system will add new customers and vendors with the home currency of QuickBooks, unless your order management system sends us a different currency code. These systems send us currency codes:
Deposit Accounts for Multi-Currency
Each account is associated with a currency code. You cannot deposit CAD orders into a USD account. Undeposited Funds is associated with your home currency. If there is a currency mismatch between the order and deposit account, you will get this error:
Order XX has failed to export into QuickBooks. Business Validation Error: You cannot use XX account. The currency of the account must either match the transaction currency or be your home currency.
If your company charges in multiple currencies, you must deposit orders into currency specific accounts. Here are the steps:
- At the my connections page of Cloud Cart Connector, hover over the gear and click rules engine.
- Click add new rule.
- Add a rule similar to this one:
You may now use multi-currency with multiple deposit accounts.
If you sync customers with the wrong orders, you must click on the customer in QB. Click edit and mark the customer as inactive. See this image below this paragraph.
Once complete, run a manual sync.