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Payments and Currencies: FAQs and Common Issues

TABLE OF CONTENTS

How the usage of different currencies impacts QuickBooks and Precoro integration

  • Can I change the supplier’s currencies in Precoro if this supplier is integrated with QuickBooks?

If a supplier is already integrated with QuickBooks, you cannot change the currency (QuickBooks does not allow changing the supplier’s currency). However, if you do need to change a currency, you can disable the Supplier in Precoro and create a new one with all the necessary configurations.

  • How can I integrate suppliers that have multiple currencies?

While you can add multiple currencies to a single supplier in Precoro, QBO doesn't currently support this functionality. Therefore, you can only integrate suppliers that have the same single currency in Precoro and QBO.

To integrate documents with such suppliers correctly, we recommend creating copies of the supplier, each having a different currency, and then integrating these copies with QBO as separate suppliers.

  • What happens with integration if the main currency in Precoro differs from the home currency in QuickBooks?

You can still set up an integration. The home currency from QuickBooks will be added to your additional currencies in Precoro. 

Please note that suppliers with different currencies in Precoro and QuickBooks cannot be synced/mapped if multicurrency in QuickBooks is disabled.

  • Multicurrency in QuickBooks is enabled. What happens if I import suppliers from QuickBooks with currencies that are not in the currency list in Precoro?

Your suppliers will be imported successfully. All missing currencies will be added to the currency list in Precoro as well as to the imported suppliers.

  • Why does my credit note or invoice fail to sync to QuickBooks Online with the error "Amount is not equal to UnitPrice * Qty"?

This issue occurs when the rounding precision for a currency in Precoro is set higher than QuickBooks Online supports. 

QuickBooks Online always rounds monetary values to 2 decimal places, when in Precoro you can set it up to 5.

If your Precoro currency settings are configured with a higher precision (e.g. 3 or 4 decimal places), line items with fractional prices (e.g. 223.325) get rounded differently by each system: Precoro calculates the total using the full precision, while QBO independently rounds the unit price to 2 decimals. As a result, the totals do not match and QuickBooks rejects the document.

To fix this error:

  1. Go to Configuration → Basic Settings → Currencies

  2. Find the currency used in the document.

  3. Set the rounding precision for this currency to 2 decimals, matching QBO's fixed rounding. See this guide for more details.

  4. Click Save.

This prevents the mismatch on every document created after the change.

Please note:

  • Changing the rounding settings doesn't recalculate existing documents. Correct or recreate manually a failed document using the updated settings before resending it to QuickBooks.

  • If you use multiple currencies, check the rounding settings for each currency you send to QuickBooks.

Managing payments

  • How can I manage payments if Invoices are in an additional and different currency, but I need to display them in QuickBooks in my home currency?

Please note that multicurrency must be enabled in QuickBooks.

In this instance, you need to undertake the following steps:

  • Find the bill that needs to be paid in QuickBooks and click Make payment or Mark as paid.

  • Select a Bank/Credit account for payment in your home currency.

  • There will be two amounts at the bottom of the payment page: in the home currency and an additional one.

  • The bill is withdrawn in the home currency (the exchange rate is taken into account), and the amount of payment to this account will be displayed in both home and additional currencies. 

  • In the Transaction Journal, this transaction will be displayed only in the home currency.