The class feature should be thought of as a way to divide a single company into many divisions, there is no 'roll up' feature that would allow proper 'investment in' accounts for investments in other entities. The class feature can be implemented but is problematic. From generating financial reports to simplifying tax preparation to tracking business finances, QuickBooks Online For Dummies covers it all. However the rate can be changed on individual transactions The Exchange rate is usually quoted in Australia as 1 AUD = 0.88 USD, however in QuickBooks it is recorded the other way around i.e. Quickbooks is not designed to handle multiple entities. This can be changed if necessary 2 Setting Exchange rates Once the preference is turned on there is a new list under the Lists menu for the exchange rates List > Currency List QuickBooks will bring in default rates so you should change the rate to be as per the current rate for the currencies that will be used. In case you have suppliers, customers, or any bank account that use a foreign currency, tracking those transactions becomes impossible without setting up the multicurrency feature in QuickBooks. By enabling this feature in your account, you can track foreign transactions. 2 Once multi currency is turned on, it can never be turned off so it is recommended not to turn it on unless you intend to use it Once you have accepted the message the home currency will default in to AUD. 1 - Does Quickbooks Online Support Multicurrency You can setup multicurrency if you have customers or suppliers using foreign currencies. Brandon, MB FebruThe multi-currency feature plays a major role in QuickBooks.
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