VO-BB - 20 YEARS OLD!

mcm · Posted: Tue Jan 01, 2008 3:30 pm Post subject:

Apparently QuickBooks does not allow for any currency other than dollars. That is a bit of a drawback.

Has anybody here found that to be an issue in their invoicing and if so what have you done about it?

Thanks for any ideas.

DaveChristi · Posted: Tue Jan 01, 2008 3:55 pm Post subject:

Hey all... I know (ok I THINK) it's been posted here before... but there is a FREE Edition of QB Simple Start.

http://quickbooks.intuit.com/product/accounting-software/free-accounting-software.jhtml

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DaveChristi · Posted: Tue Jan 01, 2008 3:59 pm Post subject:

OK.. I'll look at the date from now on.... OLD post resurected. Embarrassed

Mary,

I have used PayPal for anything OUTSIDE the USA. I have billed in Euros or GBP or $CAN. There are about 11 other currencies like Yen, $AUS and $NZ and Swiss Franc that I haven't used yet.
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Dave "Christi" Felton
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Deirdre · Posted: Tue Jan 01, 2008 4:42 pm Post subject:

Meh-- that Free version is PC only.
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glittlefield · Posted: Tue Jan 01, 2008 5:00 pm Post subject:

The PC side probably makes enough money to warrant a free version. Kiss

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mcm · Posted: Tue Jan 01, 2008 6:01 pm Post subject:

For some reason this UK client is using wire transfer, so I have to send an invoice. I suppose I could turn my Quickbooks invoice into a jpeg and white out the dollar signs.

Frank F · Posted: Tue Jan 01, 2008 6:51 pm Post subject:

Convert your Quickbooks invoice to Euros by using a currency converter - charge the Euro value, and make a note which states the payment listed is already converted to Euros - print as a .pdf, and include it in your email.

You might think about getting paid in Euros as the dollar continues to fall in value.

Toodles

F2
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mcm · Posted: Tue Jan 01, 2008 7:24 pm Post subject:

Well, they're paying in GBP, but if I get any clients this year that do use Euros, that might be a good idea (if my bank will accept them). I would like to take a trip to Spain this year, and it would be grand to have ready currency.

davidmonteath · Posted: Tue Jan 01, 2008 8:57 pm Post subject:

bobsouer · Posted: Tue Jan 01, 2008 9:13 pm Post subject:

Mary,

David's experience on his side of the pond suggests a possible solution. Change your system settings (temporarily) to UK English and see if Quickbooks picks up the changes. If that works, just change the system settings back once you've sent your invoice.
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Frank F · Posted: Tue Jan 01, 2008 9:19 pm Post subject:

[b]Question(s): [/b]

I'm trying to set up QB Premier 2007 for my co account, and I'm running into a few problems:
1) we need to use multi currency for our transactions and I face certain restriction when dealing in foreign currency, i.e. when a account based/home currency customer pay me in foreign currency, I cannot make a direct deposit of the foreign currency payment into a foreign currency account. How can I overcome that problem?
2) I need to pay some employee in foreign currency, but the QB payroll only support payment in home currency. Eg, I have an Euro bank account, and I want to pay Euro salary from that account to some employee, how can I do that?
3) I need to accept goods on memo from suppliers and also give out goods on memo to customer a lot, how to create memorandum to customer instead of invoice?

Answer:

1. Unfortunately, when you have a customer dealing with you in more than one currency, you have to set up 2 customer names (one for each currency).
2. You cannot do payroll in foreign currency.
3. You need to enter a non-posting transaction such as a sales order or estimate (obviously, you'd customize the template to say "memo"), or else create a "Pending" invoice (use an invoice and then click on Edit/Mark invoice as Pending)

From the Quickbooks Expert... http://quickbooksgroup.com/webx?14@@.efddf3b/155
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Be thankful for the bad things in life. They opened your eyes to the good things you weren't paying attention to before. email: thevoice@usa.com

Lizden · Posted: Tue Jan 01, 2008 10:28 pm Post subject:

Apparently, according to their site, the US QuickBooks program doesn't support foreign currencies:
http://www.quickbooksgroup.com/webx?14@@.ef57897/6

Although there is a workaround for the printing of the invoice NOT the actual conversion (see the above link.)

What I do is:
1) Create an invoice using the denomination they they owe me in the "rate" column of the invoice (for example 100)
2) On the next blank line of the invoice I indicate that the currency is POUNDS not dollars even though there is a dollar sign. I also indicate this in the email I sent along with the invoice
3) Once the money comes in, I'll adjust the invoice to reflect the correct dollar amount after the conversion

A bit unwieldy, but workable

It is arrogant that the US version doesn't allow for foreign currencies. The Canadian version does, so why not the US version!
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mcm · Posted: Tue Jan 01, 2008 10:43 pm Post subject:

I ended up making a picture file of the invoice, erased the dollar sign, and indicated the currency in the description. So, at least it looks tidy.

Sheesh. Global marketplace as seen from the Province of USA.

Brett Mason · Posted: Wed Jan 02, 2008 7:21 am Post subject:

...and, hey, Mary....if you need any help on the collection end, I know a guy....

Bruce · Posted: Wed Jan 02, 2008 8:55 am Post subject:

Since the dollar is still the world's leading currency (for now), I think they should be able to receive a bill in US dollars and be able to pay you in US dollars or British pounds. And yes it's a pain to take a foreign currency check to your local bank. I can't put Canadian currency checks into the ATM and the tellers look at me like I'm an alien (space type) when I go in to deposit them.

Lots of big American businesses send bills and get paid back in dollars. Only when you do a large amount of business overseas or have branches overseas is it worth doing business in other currencies.

Another solution is to ask them to pay you through a service like PayPal. Most of my foreign clients enter the payment amount in US dollars and it charges their credit card in their appropriate local currency. Easy.

B
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