Import exchange rates into QuickBooks Online

Overview

In QuickBooks Online if you have the multicurrency feature switched on then there is a list of currencies that is used to record transactions in different currencies and then convert those in the home currency. It is possible using Zed Axis to update daily historical curreny rates from currency data held in Excel or text files.

Steps to import and update foreign currency rates in QuickBooks Online

Follow these steps:

Open Zed Axis and connect to the QuickBooks Online company you want to import into.
Click on the Import tab and then browse to the Excel or text file that contains the list of currencies and exchange rates
In the mapping section select the option to create a new mapping and then using the drop down list selections map the column in your import file to the corresponding fields in QuickBooks Online.
Click the import button and Axis will import a list of currencies and exchange rates into QuickBooks Online.

More help?

Download a sample exchange rate list template: ExchangeRate.txt

Where the fields appear in QuickBooks

Detailed descriptions of the fields you can import

QuickBooks field	Type	Description
As Of Date	Date	MANDATORY - Date on which this exchange rate was set
Source Currency Code	Str 3	MANDATORY - The source currency from which the exchange rate is specified ie 1.25 CAD = 1 USD then CAD is the Source currency. Use ISO codes ie USD, CAD, EUR, GBP, AUD etc
Rate	Decimal	MANDATORY - The exchange rate between the Source Currency and the Target Currency at the As Of Date ie 1.25 CAD = 1 USD then the rate is 1.25
Target Currency Code	Str 3	The target currency against which the Rate is specified. Use ISO codes ie USD, CAD, EUR, GBP, AUD etc

Article ID: 356, Created: 11/22/2021 at 5:27 AM, Modified: 3/11/2022 at 5:41 AM