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FAQ - QuickBooks Desktop: How does multi-currency work with QuickBooks Desktop?
When using QuickBooks Desktop Multi-Currency, there are a few limitations based on your export options.
- Vendor bills and Checks: The vendor currency and the account currency have to match but do not have to be in the home currency.
- Credit Card: Expenses that don't match an existing vendor in QuickBooks export to the Credit Card Misc. vendor that we create. When you try to export a report in a currency other than your home currency, the transaction will be created under the vendor currency with a 1:1 conversion. A transaction in Expensify for $50 CAD will show in QuickBooks as $50 USD.
- Journal Entries: Multi-currency exports will fail as the account currency has to match both the vendor currency and the home currency.