Hi everyone, is there a way to change all foreign transactions exchange rate back to 1 foreign currency unit = 1 home currency unit? So1EUR=1GBP not 1EUR=0.8GBP for all?

I'll share with you the two options to change the exchange rates for all your foreign transactions in QuickBooks Online (QBO), @Corlea. 

If these are all existing foreign transactions, I'd suggest manually changing the GBP rate on each transaction. This way, the system will use the 1 EUR = 1 GBP conversion amounts. I'll guide you how. 

1. Go to Sales from the left menu. 
2. Select All Sales. 
3. Filter the date range. 
4. Locate and select the foreign transaction to open it. 
5. Enter 1 in the GBP field. 
6. Choose Use for this transaction only. 
7. Click OK. 
8. Hit Save. 
9. Repeat the process for the other sales transactions. 

The screenshot below shows you the fifth to eighth steps. For the expense transactions, you can go to the Expenses menu. Then, repeat the process above. 

If you're referring to all new foreign transactions, there are two methods to change the exchange rate. Just go to the Currency Centre or while you're entering them. Please take note that you'll need to perform this task every day. It's because the system will only save one exchange rate per day per account. It helps ensure your books will stay accurate and compliant when calculating unrealised gains and/or losses.

Here are the steps for the first method: 

1. Go to the Settings (Gear) icon at the upper right. 
2. Select Currencies under Lists. 
3. Locate the EUR - Euro currency.
4. Click Edit currency exchange from the Action column. 
5. Choose Your rate. 
6. Enter 1 in the GBP field. 
7. Click Save.

View the screenshot below to show you the last five steps. 

For the second method, see the When entering a transaction section through this article: Enter An Exchange Rate. Just choose Use for all new transactions in Euro (EUR) for (date) on the fourth step. 

Moreover, I recommend visiting this resource hub: Multicurrency Overview. It has in-depth information about the effects of using the Multicurrency feature on your company's accounts and balances. It also provides you links to learn more about this functionality in the program. 

I'm just a comment away if you need anything else. Keep safe always, @Corlea.