QuickBooks Online Multi Currency Revalue Currency Adjustment

This QuickBooks Online Multi-Currency Feature is a training tutorial how to make a revalue currency adjustment. Currency values change continuously. Exchange rates fluctuate continuously as well. QuickBooks Online remembers the number of units of the foreign currency it has recorded in each of the accounts that had transactions with the non-home currency. It also remembers the value of each of those units as they were recorded when the multi-currency transaction Happened. Before paying those foreign currency units to an international vendor that only accepts the currency in the overseas bank account, you must adjust those units of currency, in any account you have, so that they all have the up-to-date value on the day of the adjustment. This is called a “revalue currency adjustment”. It is absolutely not a transaction. It is an entry in your QuickBooks Online records that makes all the units of the foreign currency change to all the same value per unit of currency. The difference between the original balance of the accounts before the adjustment and the balance of the accounts after the adjustment gets recorded as a journal entry to the general ledger account called “exchange gain or loss”. This is considered a “realized gain or loss” because we are recording the change in our QuickBooks desktop records. You need to choose the date of the adjustment and then you will be re-valuing the rate-per-unit in your QuickBooks Online account records for the units that in your records for a specific value on the date of the adjustment.

Everybody who does international business, and uses QuickBooks Online, will need this YouTube playlist course. If your company converts currency when getting paid from foreign customers, or even exchange currency when you transfer or pay in another currency to international vendors, then you need to watch all these videos to be totally sure that you have an understanding of every possible idea / concept needed to know how to manage the Multi-currency feature in QuickBooks Online. You will also learn and experience every possible transaction type that you could imagine when making transactions with a multiple of currencies. You will always see the U.S. dollar equivalent of the foreign currency in your QuickBooks reports. You will learn when international currency rates fluctuate, QuickBooks Online will record the realized gain or loss after most multi-currency transactions. You can revalue with an adjustment of the currency in terms of the dollar or, before reporting, let QuickBooks online calculate the unrealized gain or loss on changing exchange rates of international currency.
You don’t need any previous knowledge of: accounting, computers or QuickBooks Online to enjoy studying this fun and easy QuickBooks Online Multi-Currency Playlist course. Almost as soon as you start, this course will give you everything you need for you to manage QuickBooks Online Multi-Currency Feature
The full QuickBooks Multi Currency Online play list is here:

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[worldwidequickbooks]

Hello to all of my QuickBooks fans using the multi-currency feature in QuickBooks Online!!
This QuickBooks Online training tutorial will show you how to record a “revalue currency adjustment”. It’s the same thing as a “home currency adjustment” in QuickBooks desktop. It results in an exchange gain or loss even though it is not a transaction.

I hope you will click “like” on any video that helped you and I hope you will subscribe!
-Mark

[omaraissa]

Best Multicurrency in Youtube. learn by doining that the best. Thank you very much

[Ibraheem_Ashour]

Best channel in Youtube. learn by doining that the best. Thank you very much

[annayugova]

thank you for this video - what about revaluing other balance sheet accounts, like accrued or prepaid expenses, or unbilled revenue? Is there a way to revalue after you reverse? The exchange rate is updated on the reversal journal entry