When paying expenses (cheque), the currency is not populating as the current currency rate, it is showing 1:1. How do I change this?

Hi there Kathymm,

I know how important it is to record your transactions with the most current exchange rate. If you previously adjusted the exchange rate to 1:1, QuickBooks may have memorized that for future transactions, hence why you're still seeing that rate on your new Cheque. It's easy to fix this, so let me show you how.

1. Navigate to the Gear icon.
2. Select Currencies from the Lists column.
3. Locate the currency you need to adjust from the list.
4. Choose Edit currency exchange in the Action column.
5. Select the box for Market rate and specify an As of date.
6. Hit Save to imlpement the change.

Now you can navigate back to your Cheque and the exchange rate should reflect the rate as of the date that you selected. If you ever manually adjust the field for exchange rate, you'll notice that a small box appears that warns you that you've adjusted the exchange rate for the specific currency. It asks if you'd like to save this rate for this transaction only or for all new transactions on this date. If you selected the second option, or made a manual adjustment in the Currencies settings previously, this is why you're seeing the 1:1 rate today. 

This is a simple fix so I'm confident you'll have it sorted out in no time. Enjoy your weekend!