How to deactivate multicurrency in QuickBooks Online?

How to deactivate multicurrency in QuickBooks Online? – There is no way to deactivate multicurrency in QuickBooks Online, once you turn on the mode of multicurrency in Quickbooks Online, you can’t be turned off it, and you can’t memorize the foreign currency transactions automatically. So you have to back up all the company files before activating the multicurrency mode in QuickBooks. Multicurrency feature allows the users to maintain their foreign currency in home currency online and can invoice or issue the purchase orders to your customers in their native currency, can calculate profits and losses on foreign exchange, and can also track the exchange rate on currency transactions (foreign). You can follow the below steps to turn on the multicurrency in QuickBooks Online:

  • At first, you have to launch the QuickBooks Online on your system
  • After opening the QuickBooks online on your system, you can see a Gear icon or menu in the right corner of the top, just click on the gear icon, and select the ‘Account & Settings’ option from the list
  • Then go to the ‘Advanced’ tab from the left side of the menu
  • Now you can see the ‘Currency’ section by scrolling down the scroll bar
  • After that, click on the ‘Home Currency’ option from the ‘Currency’ section
  • Then tick on the multicurrency checkbox, and ensure that you can’t undo this option
  • At last, click the ‘Save’ option to save all the changes.

Add currencies:

  • After activating multi-currency in QuickBooks add currencies in it
  • Go to the ‘Settings’ and select the ‘Currencies’ option from it
  • Choose the ‘Add Currency’ option from the list
  • And choose the new currency from the drop-down list of the ‘Add Currency’ menu
  • Select the ‘Add’ option to add the currency successfully.

Delete currencies:

  • If you want to delete currencies then go to the ‘Settings’ option and click on the ‘Currencies’ option
  • Then go to the small arrow icon or menu from the ‘Action’ column
  • Click on the ‘Delete’ option and click ‘Yes’ to confirm the deletion.

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