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G
Gebi
March 4, 2019
Question

What happens if I change the currency to USD for an account where there are already previous transactions in £ (those were manually entered)?

  • March 4, 2019
  • 1 reply
  • 1 view
The account in question is a USD account in real life but wasn't set up as such originally. Which means every transaction had to be manually  entered/ converted into £. To avaid this we would like to change this account to USD. How would this effect prior £ entries?

1 reply

E
EmmaM
Level 10
March 4, 2019

Hi Gebi

 

In the QuickBooks Online you can not change the currency of an existing chart of account to another currency. You can set up a new chart of account in the correct currency.It would be possible to then either change the account in the original transaction to the new chart of account in the right currency. 

 

What type of account is it an asset,expense,income account?

 

Kind regards

 

Emma

 

 

 

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