Payments and Currencies: FAQs and Common Issues


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.

  • 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.

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  • The bill is withdrawn in the home currency (the exchange rate is taken into account), and the amount of payment to this account will be displayed in both home and additional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