The Importance of Multicurrency Support

You and your client can have a huge problem if you don’t keep track of foreign exchange fluctuations. It can mean the difference between a net profit and a net loss for a business.

Companies that ignore foreign currency changes fail because they don’t have accurate information in a timely fashion. They don’t know the true cost of their goods and services, and therefore neglect to price them correctly for sale to their customers. Foreign currency is often ignored by business owners until it’s too late: when their accountants look at the financial effect of exchange rates after the year-end. By then, a company can be out of business or have a large shift in financial results for the year.

For example, a US company buying Canadian goods when the Canadian dollar was at its low point (January 2002) would end up paying 75% more for those same goods just a few years later (November 2007) when the Canadian buck was at its high – with no inflation whatsoever! This type of swing, outside of management’s control, can put an enterprise out of business if exchange-related cost hikes are not tracked, planned for, and addressed proactively.

QuickBooks Desktop Multicurrency Deep Dive

Multicurrency Solutions

Easy-to-follow training with text, screen captures and video from the world's leading authority in QuickBooks Multicurrency: Top Trainer and Top International ProAdvisor Esther Friedberg Karp of EFK CompuBooks Inc.

Training For All

Training uses plain English terminology for non-accounting types as well as accounting terms for accountants, bookkeepers, consultants and aspiring QuickBooks ProAdvisors.

Real Life Data

Includes sample company data files (for each of the US and Canadian versions of QuickBooks Desktop) for testing out the multicurrency functions and following courseware practice exercises.

Look no further

Are you either an accounting professional or a QuickBooks small-to-medium sized business end user? And are you confused by how to run use QuickBooks with more than one currency and stop the flow of red ink?

How about self-paced deep drive training on multicurrency in QuickBooks from the master?

Selected course topics include:

  • Introduction to Multicurrency in QuickBooks Desktop
  • Why Do you Need Multicurrency (and Why You Might Not)
  • Hot to Set up Multicurrency in QuickBooks Desktop
  • Currencies and Exchange Rates
  • Sales in Foreign Currency
  • Purchases in Foreign Currency
  • Maintaining Foreign Price Lists
  • Transfers between Currencies
  • Home Currency Adjustments
  • Troubleshooting
  • Multicurrency Reporting
  • …and more!

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How can this course help you?

For accounting professionals, consultants and QuickBooks ProAdvisors:

  • Broaden your knowledge and your offerings to service international companies
  • Businesses tracking multiple currencies are typically larger or growing, with more robust needs and tend to be higher-value clients than their single-currency counterparts

For business users:

  • Understand the risks and rewards of dealing in more than one currency
  • Don’t wait until after year-end to find out how the business is really doing – keep your finger on the pulse of your multicurrency business always!
  • Communicate with customers and vendors in their own currency as needed
  • Learn how to use QuickBooks can help you track your foreign dealings accurately, manage the risks and track the rewards
  • Price your goods and services properly to maintain a profitable business, even as exchange rates fluctuate