|Note: Home currency adjustment is only available in QuickBooks Online Essentials and Plus.|
What is a home currency adjustment?
Home currency adjustments change the home currency value of your foreign balances, recalculating them based on a new rate.These adjustments affect your balance sheet accounts.
|Note: Home currency adjustments do no affect foreign balance accounts.|
How do I create a home currency adjustment?
|Note: You must have multi-currency turned on to be able to create home currency adjustments.|
Select the Gear icon on the Toolbar.
Under Lists, select Currencies.
- Find the currency you wish to make an adjustment for and in its Action column, select the downward pointing arrow.
- Select Revalue Currency to bring up the revalue screen.
- Select a date (today or a day in the past) to run a currency revaluation.
- Select whether you'd like the revaluation to be based on the market exchange rate or a rate you specify.
- Select the account(s) you want to apply the revaluation to.
- Click Revalue.
|Note: For your books to stay accurate and compliant, we can only save one exchange rate per day per account. We use this exchange rate to calculate unrealised gains and/or losses.|
What accounts show the home currency adjustment?
|Tip: It's always a good idea to check with an accounting professional before entering these adjustments.|
Now you know about home currency adjustments.
For additional information, check out troubleshooting home currency adjustments.