how to create sub account with different currency
QuickBooks Basichow to create sub account with different currency
how to create sub account with different currency





Subaccounts must contain the same characteristics of the main account.
Julia
Specializing QuickBooks accounting through financial statements! www.dbzequalcdz.com Advanced Certified QuickBooks ProAdvisor
It is possible. Make one general account with the name of Main Banking account in base currency. Don,t make any transaction in this accounts. Make sub account of the Main Banking account. When you need to put foreign account in the main banking account. First, edit the main account and select required currency type and go to make a new sub account of main account in the required currency as you edited your main account.
First, you need to turn the multi-currncy option on, in preferences.
You then get a currency list (under Lists menu), which you can use to edit and delete currencies, or change base exchange rates.
All your income and expense accounts need to be set up in your base currency. Everything (cheques etc.) gets converted to your base currency, and you can update the exchange rate with each transaction.
For your other accounts (bank, A/R, A/P etc), you need a separate account with a slightly different name for each currency. All your customers, suppliers and vendors must also have a list entry for each currency (again, each name needs to be slightly different). I find it easier to track if I turn on the account numbers feature, and use numbered accounts. You end up with a lot of different accounts.
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Check the chart of account picture; the technique mentioned in my earlier reply