QB Issue Resolution:
The multicurrency feature gives you the ability to track transactions as well as exchange rate gains and losses.
Creating different currency of Bank in Chart of accounts will allow you to connect and calculate the correct financial exchange rate for your reporting. This will also identify the currency of the payments you receive and spend.
To learn more about multicurrency and its effects on the accounts, you can check this article: About Multicurrency.
To learn more about managing accounts in QBO, you can visit this article as your guide moving forward: Help articles.
Resolution for Issue 'Should I create new CoA accounts in every currency we use? Im linking our multicurrency bank accounts to our CoA. Currently our CoA has EUR as its only currency.' available: Yes (Solved).
Source: Intuit Community forum.
Should I create new CoA accounts in every currency we use? Im linking our multicurrency bank accounts to our CoA. Currently our CoA has EUR as its only currency.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Banking
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