Dealing with multiple currencies can be complicated. Each accounting
platform handles multiple currencies differently, and it is crucial
to ensure you post in the correct currency to your accounting platform.
Below we discuss the various scenarios and how Bookkeep can handle the
currency conversions for you to ensure postings occur in the correct
currency.

If you would like this currency conversion to be enabled for your
entity, please contact [support@bookkeep.com](mailto:support@bookkeep.com).

## QuickBooks Online

QuickBooks Online has a multicurrency feature that can be enabled. If
this feature is activated in QuickBooks Online, you will see that
indicated from the Connections/Accounting tab:

If this is ON, QuickBooks Online handles the currency conversions.
However, if this is not activated within your QuickBooks Online, you
may receive an error in Bookkeep indicating "Source currency does not
match accounting currency, multicurrency must be enabled." This error
ensures we do not post to accounting in the wrong currency. In this
case, Bookkeep can perform the currency conversion for you when multicurrency
is enabled on your entity.

Once this is set up within Bookkeep, we will convert the currency if
the source data does not match your home currency. Below is an example
from QuickBooks Online where Bookkeep completed the currency conversion
and posted the details in the description of each line, including the
original amount and the conversion rate used. In this example,
multicurrency was not enabled in QuickBooks Online, and the source data
was in CAD while the accounting currency was USD, requiring the conversion:

## Xero

For Xero, we post manual journal entries for non-deposits and bank
transactions for entries involving money transfers (e.g., deposits). For
manual journals, we compare the source data currency to the base currency
of the Xero account connected. For bank transactions, we compare the source
data currency to the bank account currency mapped for a particular deposit
journal entry. If there is a currency mismatch during these comparisons,
your posting may fail because we do not want to post the wrong currency to
Xero. In this case, you will receive an error in Bookkeep indicating "Source
currency does not match accounting currency, multicurrency must be enabled."
Bookkeep can perform the currency conversion for you when multicurrency is
enabled on your entity.

Once this is set up within Bookkeep, we will convert the currency if the
source data does not match your base currency for manual journals or your
bank account currency for bank transactions. Below is an example from Xero,
where Bookkeep completed the currency conversion and posted the details in
the description of each line, including the original amount and the
conversion rate used. In this example, the base currency (USD) did not match
the source currency (GBP), which led to Bookkeep completing the currency
conversion to post accurately.