Foreign currency

[jronchetti]

Hi, can I set up the accounts with dollars as a functional currency?

thank you
Jarka

[QFSian]

Hi @jronchetti

Firstly, you need to enable multi-currency in your account settings:

You can find US Dollar in the list of common currencies.

Then, once you’ve enabled this, you can choose the currency you need when setting up a new bank account:

For more information about using QuickFile in other currencies, including how to set up a bank account, please check out the following: Invoicing in foreign currencies

I hope this helps, but if you have any further questions, please don’t hesitate to ask.

[jronchetti]

Hi Sian
Thank you. I have enabled the foreign currencies that I need but can I set up USD to be my functional currency so that all transactions eg invested capital, loans, interest are in USD and any other foreign currencies eg a loan received in Euro is converted to USD.
Thank you
Jarka

[QFMathew]

Hi @jronchetti

As QuickFile is for UK based companies, the base currency for reporting is fixed to GBP.

However, as my colleague pointed out above, you can raise invoices in different currencies as needed.