Kington, UK -- (SBWIRE) -- 06/16/2020 -- QuickBooks Desktop possesses a multi-currency features that allows businesses to track income and expenses in multiple currencies while tracking previous exchange rates.
There are several benefits to using the multi-currency feature including the ability to reconcile foreign accounts like banks and credit cards in their native currency, without having to worry about the exchange rate, invoicing customers in their native currency, purchasing orders to vendors in their native currency and the call to QuickBooks to automatically calculate gains or losses on foreign exchange as well as track the exchange rate on foreign currency transactions.
The Multiple Currency feature was introduced to the QuickBooks US Editions in 2009 and International Editions in 2010. Using the multi-currency feature in QuickBooks does not always turn out as expected, however. For example, only current exchange rates can be downloaded. Online payment of invoices cannot be enabled for multiple currencies and automatic memorized transactions cannot be set up in foreign currency.
With the Multi-Currency feature, it is very important to remember that once the feature is enabled, it cannot be turned off and once the home currency is set, it cannot be changed. Enabling this feature also hinders the migration of data from QuickBooks Desktop to Online and being unable to select multiple customers in invoices for Time and Expense windows. "We highly recommend a backup be made of the QuickBooks company file before turning on the multicurrency feature. As an alternative you can also convert amounts to Microsoft Excel and then paste your calculations into QuickBooks records," John Rocha, Technical Services Manager of E-Tech, said.
E-Tech promises an end to the multicurrency dilemma by offering a money-back guaranteed service to replacing multiple currencies from QuickBooks with only a single currency so the data file can be converted to QuickBooks Mac or QuickBooks Online. This service is offered with the US, UK, and Canadian versions of QuickBooks.
For more information, visit: https://quickbooksrecovery.co.uk/quickbooks-data-conversions/multiple-currency-removal-service/
About E-Tech
E-Tech is the leading service provider of QuickBooks File Repair, Data Recovery, QuickBooks Conversion and QuickBooks SDK programming in the UK and Ireland. In their 20 years plus of experience with Intuit QuickBooks, they have assisted over 1000 satisfied customers with their requirements. E-Tech UK covers US, UK, Canadian, Australian versions which include Reckon Accounts, and New Zealand versions of QuickBooks through PC and Mac platforms.
For media inquiries regarding E-Tech, individuals are encouraged to contact Media Relations Director, Melanie Ann via email at Melanie@e-tech.ca.
To learn more about the company, visit: https://quickbooksrecovery.co.uk/