QuickBooks Online Multiple Currencies faq

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learnersLearners: 2
instructor Instructor: Robert (Bob) Steele instructor-icon
duration Duration: 9.00 duration-icon

Learn the basics of QuickBooks Online Multiple Currencies

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Course Feature Course Overview Course Provider Discussion and Reviews
Go to class

Course Feature

costCost:

Paid

providerProvider:

Udemy

certificateCertificate:

Paid Certification

languageLanguage:

English

start dateStart Date:

On-Demand

Course Overview

❗The content presented here is sourced directly from Udemy platform. For comprehensive course details, including enrollment information, simply click on the 'Go to class' link on our website.

Updated in [July 11th, 2023]

Learn to record transactions using multiple currencies from a certified public accountant (CPA)


What youll learn:

How to get access to QuickBooks Online including a possible free 30-day trial
How to turn on the multicurrency feature
Set up accounts related to multicurrency including account types of Cash Accounts Receivable & Accounts Payable
Enter transactions related to foreign currency accounts receivable
Enter transactions related to foreign currency accounts payable
Enter transactions related to forward contracts for speculation
Enter transactions related to forward contracts to reduce risk on foreign currency transactions

Learn how to get access to QuickBooks Online including a possible free 30-day trial version often offered by Intuit the owner of QuickBooks Online
The course will discuss accounting for multiple currencies outlining the process in Excel to provide a more transparent look at the process Then we will enter the transactions into QuickBooks the software automating some of the steps required
We will learn how to turn multicurrency on and which accounts will be affected most by multicurrency transactions including cash account types accounts receivable account types and accounts payable account types
Learners will work example problems related to the sales cycles and the purchases cycle the sales cycle including foreign currency receivables the purchases cycle including foreign currency payables
We will also demonstrate transactions related to forward contracts both for speculative purposes and to mitigate risk on foreign currency transactions
The multiple currency feature is useful when the company is holding onto cash in a foreign currency the software helping us to record the home currency equivalent for financial statement presentation
Multiple currency functionality is also helpful when we make sales on account sending an invoice hoping to get paid in the future tracking accounting receivable but expecting to be paid in a foreign currency The accounts receivable account will need to be valued in the home currency even though we will be paid in a foreign one
We have a similar situation when we make purchases on account promising to pay in a foreign currency at some point in the future The accounts payable account will need to be valued in the home currency equivalence even though we will be paying in a foreign currency

Course Provider

Provider Udemy's Stats at AZClass

Discussion and Reviews

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faq FAQ for Quickbooks Courses

Q1: Does the course offer certificates upon completion?

Yes, this course offers a paid certificate. AZ Class have already checked the course certification options for you. Access the class for more details.

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Q3: How many people have enrolled in this course?

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