Brandon, MB -- (SBWIRE) -- 04/05/2021 -- The Multicurrency feature in QuickBooks can be used to properly track transactions, as well as exchange rate gains and losses and is by small businesses with customers, suppliers or bank accounts that use foreign currencies or currencies that differ from their home currency.
Enabling the multi-currency feature allows for the reconciliation of foreign accounts like banks and credit cards in their native currency, without having to consider the exchange rate. Customers can also be invoiced in their native currency as well purchase orders can be purchased to vendors in their native currency.
On the flipside, only current exchange rates could be downloaded and if they have not been done in a while, the historical exchange rates would have to be entered manually. Although static foreign prices can be set up using the per item price levels, the same cannot be done for static foreign unit costs.
When multicurrency is enabled, some features such as online invoice payments cannot be done and automatic memorized transactions in foreign currencies cannot be set up.
The biggest disadvantage, many consider, with themulticurrency feature is that once it is turned on, cannot be turned off.
E-Tech's Multicurrency feature removal service removes the multicurrency settings from a data file and converts the file to a single currency. This also simplifies the process of converting adata file to QuickBooks Mac or QuickBooks Online.
More service specifications for E-Tech's QuickBooks Multiple Currency Removal Service can be seen at https://quickbooksrecovery.co.uk/quickbooks-data-conversions/multiple-currency-removal-service/.
About E-Tech
E-Tech is the leading service provider of QuickBooks File Repair, Data Recovery, QuickBooks Conversion and QuickBooks SDK programming in the UK and Ireland. In their 20 years plus of experience with Intuit QuickBooks, they have assisted over 1000 satisfied customers with their requirements. E-Tech UK covers US, UK, Canadian, Australian versions which include Reckon Accounts, and New Zealand versions of QuickBooks through PC and Mac platforms.
For media inquiries regarding E-Tech, individuals are encouraged to contact Media Relations Director, Melanie Ann via email at Melanie@e-tech.ca.
To learn more about the company, visit: https://quickbooksrecovery.co.uk/
Media Contact
Melanie Ann
E-Tech
61 Bridge St.
Kington HR5 3DJ
Melanie@e-tech.ca
www.quickbooksrecovery.co.uk