Why are USD Amazon Seller transactions not converting to HKD during reconciliation in QuickBooks, and why can’t they be auto-classified using existing product items?

Hello there, Abdul.

Thank you for bringing this to our attention. I understand the importance of managing your currencies properly to ensure accurate reconciliation and reporting, especially when working with multiple currencies. 

QuickBooks is designed to allow users flexibility in managing foreign currency transactions, such as USD from your Amazon Seller account, when reconciling into your home currency (HKD). As part of this process, exchange rates can be manually applied to ensure accuracy in your reports. 

The multi-currency feature in QuickBooks allows you to set up and manage exchange rates, giving you control over your transactions. However, these rates are not automatically applied to transactions imported from third-party platforms like Amazon. Furthermore, Amazon uses its own exchange rates for processing, which may result in slight differences in balances when compared to QuickBooks. 

We recommend continuing to manually manage these transactions, especially when working with different currencies, to ensure accurate reconciliation and reporting. This process ensures that balances in QuickBooks fully align with the actual amounts reflected in your Amazon account.

If you have any additional concerns, please notify us. We're here to help.

You may need a 3rd party connector to do so.