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05/24/2012 at 04:51PM PDT
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LauraD
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08/24/10 6:47am PDT
Viewed by asker 08/27/10 5:52pm PDT

Multi-currency options for Balance Sheet and P & L reporting

On this site

http://support.intuit.ca/quick...

it says "You can now show reports in foreign amounts through a new Modify Reports option".

I cannot see how to modify the reports to do this - is this available for the Balance Sheet, Profit and Loss, and/or Trial Balance reports?

If so, please tell me where to find that option.

Laura D

PS - I am very experienced in using QuickBooks, but most of my clients use the US version - this client is using the CA version 2010, so that is why I am posting here. . .thanks.

My motto:
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Laura Dion
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08/24/10 7:12am PDT
The solution

I cannot find any option in BS, PL or TB to show in foreign currency.

Let's wait QuickBooks Canada host to give us information and clarify what reports have this option.

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08/24/10 8:46pm PDT

It's definitely not an option in any "summary" report in Canadian QB.  Summary reports include standard B/S, P&L and T/B reports, also A/R and A/P Aging Summary reports.

It is an option in most "detail" reports.  Add relevant columns such as Foreign Amount, Foreign Balance, Foreign Open Balance.

It's the same as in the Canadian "Premier Multicurrency Edition" and 2007 and earlier Canadian versions, I don't see any difference.

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08/25/10 1:02am PDT

Thanks for clarifying that - I thought I might be missing something.

. . .another example of the Intuit 'help' resources being not-so-helpful.

Back to exporting to excel and working it there.

Some possible work-arounds. ..???

Does the Canadian version have Intuit Statement Writer?  If so, would that give an option to convert the summary reports to foreign currency?

Or, could the user change the global settings to run the reports and, then, change them back?  (or, restore a backup under a separate file name and do it there??)

Ideas?

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When in doubt, make a backup first!!

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08/25/10 9:03pm PDT

Hi Laura,

QB Canada 2010 is like a "lean" version of QB USA 2009.

you do not miss anything. Only QB Canada missed so many feature which are in QB  USA years ago. and create so many "bugs" in Canada version that not happened in US version.

work-around ?  no way.

walk away -- yes, (feedback from many forum users considering to do so)

If you like to, post it in QB Canada Product Suggestion, Let Intuit aware that the trouble in supporting clients with operation in Canada and USA.

 

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08/25/10 9:55pm PDT

Canadian QB 2010 Premier Accountant Edition has a Financial Statement Designer, which I haven't used.  Not having used it, I don't know if it is capable of changing the Balance Sheet & P&L to a different currency - but I would be  ****VERY****  surprised.  I don't know if it's the same as the US Intuit Statement Writer - sounds different. 

By "global settings", do you mean Windows regional settings?  That would change only the format of the numbers displayed, it definitely could NOT calculate foreign currency translations. 

Nor can you change the home currency of a file.

Like Mr. Tung, I can see no work-arounds for this.

EXCEL !!!

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08/26/10 10:12am PDT

Hi Laura,

In QB2010 Canada you can run the following reports in their transaction currency:

•A/R Aging
•A/P Aging
•Customer Balance Summary
•Sales by Customer Summary
•Purchases by Vendor Summary

These are reports that when ran will display (Values in Home Currency) in the title. When you see this, you can go to Modify Report and change the "Display amounts in:" from Home Currency only to The transaction currency. The Balance Sheet, P+L and Trial Balance do not have this option.

However, this functionality does not change a report to display all values in another chosen currency. What it does is show the foreign value of the amounts using the exchange rate on the transactions that it is calculated from. This is the same functionality that QB US 2009 has.

The answer that Safari818 provided is half correct in that you can add columns to the detail reports to get foreign values. However, there ARE changes between the 2007/MC version and QB2010 MC implementation when it comes to reports. This new functionality being one of them.

The Financial Statement Designer in QB CA does not have the functionality that you are looking for, it has not had any updates in regards to Multicurrency recently.

If what you are looking for is running a report where the balances are converted to a foreign currency using an exchange rate for a particular day, I would agree that your best bet is indeed to use Excel and multiply each line by the exchange rate for the currency you want your report to display in.
 

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SJI2011
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Now I think I'm missing something here - I've recently purchased QB 2011 Pro to do some work for a client in Central America.  They conduct tranasctions in their home currency (set as such), and US$ (set as foreign currency),  How do I create a TB/P&L/Balance Sheet that gives me the entire report in the foreign currency (ie US$)?

Thanks.

Steve

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