QuickBooks hosts a number of valuable features that make different tasks easy to do. While you set up your QuickBooks, you are asked for default currency. The default currency/ home currency in which the transactions take place in your business. At times you might need to change home currency in QuickBooks. Before we tell you how to change customer currency in QuickBooks, you must know that if the multi-currency feature is activated, you have to start a new company file for new home currency. We list down ways to change currency in QuickBooks 2019 for all possible scenarios.
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Change Default Currency in QuickBooks if Multi-Currency Feature is not Activated
Only if Multi Currency Feature is not activated in QuickBooks Online, the following steps will help to change home currency in QuickBooks.
- In QuickBooks Online homepage click the Gear icon and then select Account and Settings.
- From there navigate to Advanced and in the column of Currency, click the Edit button.
- Under the Home Currency column, choose the currency you want to change from the drop-down menu next to it.
- Click on Save and hit Done.
NOTE: If dealing with any errors while using or setting up multi-currency in QuickBooks, follow our article How to Fix QuickBooks Multi-Currency Problem.
Change Home Currency in QuickBooks Online Plus if Multi Currency Feature is Activated
If your Company File has Transaction for 60 Days or More
Cancel your current account with the following steps:
- Move to Settings and click on Account and Settings.
- Click on Billing and Subscription.
- Select Cancel from QuickBooks section.
- Go through the steps as they come to cancel the account.
- For third party application like payroll, cancel them as well.
Start a new company:
- Sign in to QuickBooks Online account using the same user ID and password.
- For payroll, sign up on the Workers tab.
Delete your Company Data if it is Less than 60 Days Old
- Sign in to your QuickBooks Online account.
- In the URL at the address bar, Delete everything after the last / (symbol) and type PurgeCompany.
- Confirm the deletion by typing Yes.
- Choose Wipe Data.
Once this is done you can start your company file once again and choose currency for a QuickBooks account.
Still in Doubt! Talk to our experts at 1.855.738.2784 to help you change home currency in QuickBooks.
FAQs on Currency Change in QuickBooks
There is no provision to change currency in QuickBooks POS.
To change QuickBooks from Dollars to Pounds, follow the steps listed above in the article and change home currency in QuickBooks.
To change currency in Chart of Accounts, you need to create a new account and use the new currency there. Here are the steps to change home currency in QuickBooks COA.
1. Click on Transactions from the left pane and go to Chart of Accounts.
2. Click on New and choose Category Type and type in Name of the account.
3. Choose your preferred Currency and click Save & Close after that.