# How to Set Up Multi-Currency in Intuit Enterprise Suite (Beta), and What It Doesn't Cover Yet

> Multi-currency in Intuit Enterprise Suite is in beta. It can't be turned off, USD is the only functional currency, and inventory, budgets, projects and fixed assets aren't fully supported yet.

- URL: https://logistify.ai/guides/intuit-enterprise-suite/multi-currency-beta/
- Section: Intuit Enterprise Suite Guides, Dimensions, currency & reporting
- Applies to: Intuit Enterprise Suite (beta)
- Steps checked against: Intuit help articles for Intuit Enterprise Suite, checked 30 October 2026
- Updated: 2026-10-30

**Short answer:** To set up multi-currency in Intuit Enterprise Suite for several companies, switch to consolidated view, go to Settings ⚙ > Currencies, select Set up multicurrency, confirm USD as each functional currency, resolve rate conflicts and select Save and finish. It's in beta and can't be turned off. One central rate table uses Communify rates, refreshed four times a day, and reports convert foreign balances automatically. Inventory, budgets, projects and fixed assets aren't fully supported yet.

## Before you start

- Multi-currency in Intuit Enterprise Suite is in beta and available in the United States.
- You can't turn it off later. Turning it on is permanent for every company in your organization.
- During the beta, every company must use US dollars (USD) as its functional currency. Intuit says support for other functional currencies is coming in a later release.
- Payroll and contractor payments pay only in the local currency of the company's country. If a company has payroll, its functional currency can't change.
- Intuit recommends planning the switch with your Customer Success Manager or your accountant during the beta.
- To edit the rate table later, you need to be the primary admin or have the Currencies permission.

### What the beta covers

| Area | During the beta |
| --- | --- |
| Functional currency | USD only, for every company |
| Reports | Trial Balance, Balance Sheet, Profit and Loss, Unrealized Exchange Gains and Losses, and Realized Exchange Gains and Losses. Intuit says other reports will follow over the next few months. |
| Inventory | Not fully supported yet |
| Budgets | Not fully supported yet |
| Projects | Not fully supported yet |
| Fixed assets | Not fully supported yet |
| Home page widgets and KPIs | Use historical exchange rates, with a banner explaining how to reconcile them with your reports |

*From Intuit's 'Set up multi-currency in Intuit Enterprise Suite', updated 5 October 2026. Checked 30 October 2026.*

For distributors, the inventory line matters most. If you buy or sell stock in other currencies, talk to your Customer Success Manager or accountant before you turn multi-currency on, because you can't turn it off again.

## Step 1: Turn on multi-currency for one company

1. Go to Settings ⚙, select Account and settings, then Advanced.
2. In the Currency section, select Turn on multicurrency.
3. Select Yes, turn on multicurrency.

## Step 2: Turn on multi-currency for your organization

If you manage more than one company, turn it on for the whole organization from consolidated view. A guided setup checks each company's functional currency and clears up conflicting exchange rates before anything changes.

1. In Intuit Enterprise Suite, switch to consolidated view.
2. Go to Settings ⚙, then select Currencies.
3. Select Set up multicurrency.
4. Confirm the functional currency for each company. During the beta, each one must be USD.
5. Resolve any conflicting exchange rates. If your companies saved different rates for the same date, choose the rate the whole organization will use, or apply one company's saved rates to all companies.
6. Select Save and finish, then confirm your choice. This step is permanent.

IES then applies your rate choices, gets your chart of accounts ready for foreign currency accounts and takes you to the Currencies page. A few short tasks there help you add foreign accounts and tidy up old rate overrides.

## Step 3: Add foreign currency accounts

1. Add the account in your chart of accounts and set its currency when you add it. Most account types, including bank and credit card accounts, can be in another currency.
2. Check your reports. Foreign currency accounts show their currency after the name, such as Checking - GBP.

Intuit's IES article doesn't give field-by-field steps for adding a foreign currency account, customer or vendor.

## Step 4: Check or override rates in the central rate table

1. In consolidated view, go to Settings ⚙, then select Currencies.
2. Find the currency, then select Edit exchange rate.
3. Enter a date to see the default rate for that date.
4. To use your own rate, such as one from your bank statement, enter it and select Save.

The Currencies page lists every currency used in your chart of accounts. Default rates come from Communify, a third-party exchange rate provider. They refresh four times a day, and reports use the final rate of each day. Saved rates apply to every company and appear in a history table. If your rate differs from the default by more than 1%, IES asks you to confirm it. The audit log records the user, the currency pair, the date, and the old and new rates.

## Step 5: Change the rate on a single transaction

1. On a foreign currency form, such as an invoice or a bill, go to the currency section and select Edit rate next to the exchange rate.
2. Choose the default rate, a rate your organization saved for that date, or a custom rate for this transaction only.
3. Save the transaction.

A rate set on one transaction never changes the central rate table. To change the rate your reports use, update the rate on the Currencies page.

## Step 6: Read foreign balances on your reports

1. Run the Trial Balance. Foreign accounts show in US dollars as of the report end date. The detail view lists each foreign account in its own currency, with the foreign balance, the rate used, the converted amount and any unrealized gain or loss.
2. Run the Balance Sheet for any date. Foreign asset and liability balances use that date's rate, with no month-end adjustment.
3. Check unrealized gains and losses on open balances, such as an unpaid invoice or a foreign bank account. They're calculated on the report, not posted to an account. Select the amount to open a detail report.
4. Check realized gains and losses. They post to a Realized Exchange Gain or Loss account when a payment happens, based on the payment-date rate compared with the transaction-date rate.

You don't revalue currencies by hand: change a report's end date and the rates and unrealized gains or losses update with it. If you're moving from QuickBooks Desktop, Intuit says your historical numbers don't change, and closed periods keep what they reported. KPIs work differently during the beta; see [How to build KPI scorecards, dashboards and forecasts in Intuit Enterprise Suite](https://logistify.ai/guides/intuit-enterprise-suite/kpis-dashboards-forecasts/).

## If something doesn't look right

- KPIs or home page widgets don't match your reports: during the beta, they use historical exchange rates. A banner explains how to reconcile them.
- A report isn't converting foreign balances: during the beta, only the Trial Balance, Balance Sheet, Profit and Loss and the two exchange gain and loss reports work with multi-currency.
- You can't edit a rate: only the primary admin, or users with the Currencies permission, can. Everyone else can view rates.
- IES asks you to confirm a rate: the rate you entered differs from the default by more than 1%.
- Your Exchange Gain or Loss account has a new name: IES renames it Realized Exchange Gain or Loss.
- A rate you set on a transaction didn't change your reports: transaction rates never change the central rate table.

## Where Intuit Enterprise Suite leaves the work to you

- Inventory isn't fully supported in the beta. Intuit's article doesn't say what works for stock bought or sold in another currency.
- Budgets, projects and fixed assets aren't fully supported yet either.
- Every company must keep USD as its functional currency, so a subsidiary that reports in another currency can't use it as its functional currency yet.
- There's no undo. Once it's on, multi-currency stays on for every company in your organization.
- Only five reports work with multi-currency for now.

Intuit's Fall 2026 release notes (26 October 2026) list multi-currency enhancements as coming soon: role-based rate permissions, paying foreign-currency credit cards and transferring to foreign bank accounts, more reports that remeasure automatically (such as Profit and Loss by Month and Profit and Loss by Class), and tracking fixed assets in the currency you bought them in. Intuit's multi-currency help article, updated 5 October 2026, gives no steps for them, though it already describes a Currencies permission for editing the rate table.

## How Logistify helps

Logistify doesn't set up currencies or exchange rates in Intuit Enterprise Suite. Its [Sales Order Service](https://logistify.ai/agents/sales-order/) enters customer orders that arrive by email, PDF, Excel, EDI and other channels into IES as sales orders, and a person reviews exceptions.

## Frequently Asked Questions

### Can I turn off multi-currency in Intuit Enterprise Suite?

No. Turning it on is permanent for every company in your organization.

### Can a company in Intuit Enterprise Suite use a functional currency other than USD?

Not during the beta. Every company must use US dollars. Intuit says support for other functional currencies is coming in a later release.

### Does multi-currency in Intuit Enterprise Suite work with inventory?

Not fully yet. Intuit's article, updated 5 October 2026, says budgets, projects, inventory and fixed assets aren't fully supported during the beta.

### Where do the exchange rates come from?

From Communify, a third-party provider. Rates refresh four times a day, and reports use the final rate of each day. You can save your own rate for any date.

### Do I need to revalue foreign balances at month-end?

No. Reports apply exchange rates from their own date range. The Trial Balance and Balance Sheet use the exchange rate for the report end date.

### Who can edit exchange rates?

The primary admin, or users with the Currencies permission. Everyone else can view rates.

## Sources

- [Intuit: Set up multi-currency in Intuit Enterprise Suite](https://quickbooks.intuit.com/learn-support/en-us/help-article/multicurrency/set-multi-currency-intuit-enterprise-suite/L0HAC1kOq_US_en_US)
- [Intuit: What's new in Intuit Enterprise Suite: Fall 2026 release](https://erp.intuit.com/blog/product-update/fall-2026-intuit-enterprise-suite-release-notes/)