do you need to know how to add individual currencies to the multi-currency
list just watch this video and you'll know how to add and activate additional currency
if you have any questions about this topic you can leave them in the comments section below and
i'll do my best to help you and of course if you feel the video helped you i hope you will click
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adding additional currency involves using the currency list the currency list is a window that
behaves the same as any other list in quickbooks all currencies available are on the list
and are inactive until needed all you have to do is click the check box and you can see all
of the currencies that are available from the main menu click list currency list and you can see that
only three currencies were available by default in addition to the home currency the us dollar
quickbooks has already activated the three most likely currencies that people in us
deal with if they're not dealing with dollars but let's stretch this window tall and then click
include inactive and you can see all of the available currencies that quickbooks is able to
use in this file are now on this list and anyone that is not activated has the x next to it and
it's very easy to activate any of these once you can see them now the value of the currency will
be whatever the exchange rate is at the moment of activation so for example when i activated russian
rubles on january 7th russian rubles were .012 of a dollar that means that one ruble is equal to
.012 times one dollar and that's what it was at the moment i activated rubles in the other file
now let's activate russian rubles right now so we have to scroll down to the rs because this list is
in english russian ruble click on it and then at the moment you select it you come down and click
currency make currency active that's all you have to do and the x disappears now if you close this
and you reopen the list currency list and you include active now you see only russian ruble
is added because that was the only one that we activated now you also want to add guyana dollars
okay because let's imagine we do business in russia and guyana for some reason those two
countries okay but it's an example of a second currency so we click include an active and we go
up to the g's guyanese dollar and at the moment you select it you click the bottom left currency
make currency active and now when we remove the check mark guyanese dollar has been added
to the currency list what else well we must also add the currency to the customer data now this
is a very important point when you're finishing your setup for multi-currency for each customer
you add to quickbooks you must tell quickbooks which currency that customer will pay you with
only customers who pay you with active currencies
which means currencies that we just put on the list will be able to save their transactions
in the customer list simply choose the currency when you first input the new customer
and the rule is you're only allowed one currency per customer that rule really applies here you
cannot have a customer on your customer list that you can make transactions with more than
one currency and unfortunately you might need to add the same customer twice if you
do business with that customer with two different currencies so let's add henry goodman from guyana
he's a nice guy and he's a customer who needs to pay us in the guyanese dollar so we click uh open
the customer center we click customer customer center and now actually henry is on the list
says the person could already be on the list because we already know how to add a new customer
but henry we don't charge us because the guyanese dollar has been activated
it will show up in this list when we add a customer guyanese dollar bans make his name henry
goodman because he is a good man click okay who else do we want to add to our foreign customer
list how about yuri bury in a hurry 2000 let's say he pays us in rubles so let's add yuri bury to the
customer list and charge him rubles customer customer center new customer new okay and
his currency is on the list and it's activated so it's in this pull down here russian ruble click ok
now whatever we do to customers regarding adding currency we must also do to the vendors
so for each vendor that you add to quickbooks you must tell quickbooks which currency
you will pay them with only vendors whom you pay with active currencies which means
currencies that we put on the list will be able to be saved in the vendor list
simply choose the currency when you input the new vendor and just like with customers one
currency to a customer one currency to a vendor and if for some unlikely reason you have to pay
the same vendor with a different currency you might have to put that vendor on the list twice
and separate the transactions with the different currencies so let's add gina cassina from guyana
who gives us delivery service vendor vendor center okay is gina here no new vendor
gina casina
from guyana and she needs to pay us and needs to be billed in guyanese dollar
and we click ok who else do we need to add let's add yelena mitrofena from russia
who we pay her in rubles for legal and professional services okay so we go vendor
and we need to pay her in russian rubles and click ok congratulations
you're all set up and now you're ready to receive payment and pay in other currencies
using the quickbooks desktop multi-currency feature
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