QuickBooks Mac and Online Do Not Support Multicurrency

QuickBooks Online supports multicurrency, so you can track transactions in foreign currencies. However, if you are converting from QuickBooks Desktop, there are specific requirements.

Converting from QuickBooks Desktop

If you are trying to convert a QuickBooks Desktop file to QuickBooks Online and receive an error regarding multicurrency, it is because the Desktop file has the feature enabled. QuickBooks Online can handle multicurrency, but the conversion process from Desktop requires the Desktop file to have multicurrency turned off before you begin.

To resolve this, you must revert your Desktop company file to a backup created before multicurrency was turned on.

1. Restore the backup: Open your pre-multicurrency backup in QuickBooks Desktop.
2. Verify the setting: Ensure the multicurrency feature is not turned on in this file.
3. Start the conversion: Use this clean file to export and import your data into QuickBooks Online.

Important: Reverting to a previous backup means any data entered after that backup was created will be lost. We recommend running a Transaction List by Date report in your current Desktop file to record all transactions entered between the backup date and today. You can manually re-enter these transactions into QuickBooks Online after the conversion is complete.

Enabling Multicurrency in QuickBooks Online

Once your data is successfully in QuickBooks Online, you can turn on the multicurrency feature:

1. Go to the Settings gear icon.
2. Select Account and settings.
3. Click the Advanced tab.
4. In the Currency section, select Edit.
5. Check the box for Multicurrency.
6. Click Save, then confirm.

Note: Once enabled in QuickBooks Online, the multicurrency feature cannot be turned off.