Does anyone know why currency rates are incorrect in the accounts?

Let’s figure out why your account is showing an incorrect exchange rate of EUR to GBP, Petra.

First, could you please clarify what you mean by 'accounts'? This information will help me provide an accurate solution to your concern.

Also, please note that QuickBooks downloads and uses exchange rates from IHS Markit, an information services company. These rates are updated every 4 hours. With this, I suggest checking your EURO currency settings to see if your rate was incorrectly changed to 1 GBP per EURO.

Here’s how:

1. Go to the Gear icon, then click Account and Settings.
   
2. Hit Advanced, then find Currency.
3. Click Manage Currencies.
   
4. Choose EURO and hit Edit currency exchange.
   
5. From the Market Rate, kindly check if 1 EUR is equal to 1.
   
6. If so, you can change it to 0.86 in the Your Rate field to follow the current exchange rate.
7. Once finished, click Save.
   

Once you’re done, kindly refresh your browser so the changes will take effect immediately in your QBO account. Then, recheck your exchange currency rate to see if the Market rate has changed to 0.86.

In addition, if you want to review whether someone made changes to your currency rate, you can utilize the audit log and review the activities there for any changes.

Please post in the Community forum again for other questions, and we'll respond promptly.