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

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. 1Go to Settings ⚙, select Account and settings, then Advanced.
2. 2In the Currency section, select Turn on multicurrency.
3. 3Select 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. 1In Intuit Enterprise Suite, switch to consolidated view.
2. 2Go to Settings ⚙, then select Currencies.
3. 3Select Set up multicurrency.
4. 4Confirm the functional currency for each company. During the beta, each one must be USD.
5. 5Resolve 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. 6Select 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. 1Add 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. 2Check 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. 1In consolidated view, go to Settings ⚙, then select Currencies.
2. 2Find the currency, then select Edit exchange rate.
3. 3Enter a date to see the default rate for that date.
4. 4To 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. 1On 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. 2Choose the default rate, a rate your organization saved for that date, or a custom rate for this transaction only.
3. 3Save 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. 1Run 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. 2Run the Balance Sheet for any date. Foreign asset and liability balances use that date's rate, with no month-end adjustment.
3. 3Check 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. 4Check 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.

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 enters customer orders that arrive by email, PDF, Excel, EDI and other channels into IES as sales orders, and a person reviews exceptions.