Question

How do I change the currency on my invoice from USD to GBP? I am a US LLC selling services to a British client and need my invoices to be in GBP for them.

Forum|Forum|6 years ago
March 5, 2020
4 replies
118 views

No text available

QuickBooks Online

Level 14

You have to turn the multi-currency feature on, create a GBP bank account and create a GBP customer. Then you may create a GBP invoice for your customer.

Another option, utilize this payment service to deal with it. You may create a USD invoice and your client will pay it in GBP.

https://veem.grsm.io/veems

Hope it helps.

M

Mario_Oliver

How to create an invoice in GBP and get paid in US$?

R

RhoiceW

QuickBooks Team

Hi there, Mario. To create an invoice and get paid in US$, you'll need to turn on your multi-currency in your settings in QuickBooks Online (QBO).

To enable the feature, follow these steps on how to do so:

Go to the Gear icon, then select Account and Settings.
Click Advanced.
On the Currency section, turn on Multicurrency.
Click Done.

Then, if you're creating an invoice for a British customer, you'll need to create a new information and place it under GBP.

Here's how:

Go to Customers & leads on the left panel of your account.
Click Customers, then select New customer.
On the Currency section, click the dropdown arrow.
Select British Pound Sterling.
Enter the necessary information for the customer.
Select Save once done.

Next, proceed to create an invoice for your customer.

Here's how:

Click on the +New icon, then select Invoices.
On the customer dropdown button, select the customer you created earlier.
Enter the necessary items on the invoice.
Once done, click Save and close.

After that, mark the invoice as paid, then create a deposit of the funds to your desired account. Also, to ensure that the funds will be tagged as US$, you'll need to create a transfer.

Furthermore, you can refer to our article to learn more about setting up a multicurrency in QBO.

Additionally, you can refer to our article to learn how to accept online payments for online and in-person sales with QuickBooks Payments.

Elevate your financial management to new dimensions with the guidance of our QuickBooks Live Expert Assisted team. Our experts excel at refining your financial processes and imparting personalized advice that aligns with your business objectives. A click is all it takes to embark on a journey toward financial excellence.

I'm confident these steps will allow you to invoice your customers and receive their payments accordingly. If you have any other questions or need further assistance with processing invoices, feel free to use the comment section. I'll get back to you promptly to help you stay on top of your tasks.

MichelleBh

Level 8

Hello, @padgetluetgerath.

Thank you for posting here in the Community. I can help walk you through the steps on how to change the currency to your customer.

Please note that once you turn on the multicurrency, you can't undo. Also, you're unable to change the currency for an existing customer. You'll need to create a new one with a different profile and be sure to select the foreign currency during creation.

Let me guide you how:

Go to the Gear icon located on the upper right side.
Click the Advanced tab.
Hit the Edit button perpendicular to Currency.
Choose your Home currency in the drop-down arrow.
Put a check marked on the Multi-currency, then tick the box in the I understand I cant undo Multi-currency.
Tap Save, then Done.

For the detailed guide, check out this article: Turn on and use multi-currency.

Once done, you'll need to Make Inactive the customer's profile so that you can update the customer's currency. Even though a customer is made inactive, they will remain on reports of transactions related to them.

Here's how:

Go to the Sales tab, then select Customers.
Double click the customer's name and click the Edit button.
Press Make Inactive, then click Done.

4. Go back to the Customers section and hit New Customer.

5. Then re-create the customer's profile.

6. Tap the Payment and billing icon.

7. Click the In this customer pays me with drop-down, then pick GBP.

8. Tap Save.

For more information, please browse through this article: Assign a foreign currency or multicurrency to a customer.

You can always make the customer active again. For the detailed steps, visit this article: Make a customer inactive and then active.

After that, let's go to the New (+) on the upper left side, then click Invoice and complete the needed information. See the sample screenshot below:

Please check out this article: About Multicurrency. This link helps you on how to add a foreign currency account. And, you'll learn more about exchange rates in QBO.

Let me know if you have other questions. I'm always here to help.

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