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If your business operates internationally, you may have bank or investment accounts outside of the United States. Quicken enables you to track those foreign accounts and see the currency exchange rates for each. Quicken already has entries for most of the world's major currencies, such as pounds, francs and pesos, so you don't need to enter them again. If you can't find a currency in Quicken, you can enter it manually.
Enable Multicurrency Support
1.Launch Quicken, then click 'Edit' and 'Preferences.'
2.Click 'Calendar and Currency' in the left pane, then select 'Multicurrency Support' in the right pane.
3.Click 'OK.' Wait a moment as Quicken assigns your default currency to your investments and accounts.
Adding a Currency
1.Start Quicken, then click 'Tools' and 'Currency List.'
2.Click 'New,' then enter a name for the currency you want to add.
3.
Type the currency symbol, then enter the three-digit International Standards Organization code. If you don't know the currency's ISO code, look it up on the XE ISO 4217 Currency Codes Web page (see Resources).
4.Enter a one-letter shortcut for the currency, if desired. A shortcut will allow you to quickly enter foreign currency amounts in the register.
5.Type the exchange rate for the currency in the Amt Per $ / $ Per Amount field. To calculate the exchange rate, you need to know how many foreign currency units equal one U.S. dollar. Use the OANDA Currency Convertor to look up exchange rates (see Resources). When you enter one rate in Quicken, the program automatically calculates and enters the other rate.
6.Click 'OK' to save the entry and add the currency to the Currency List.
Tip
- You can edit the exchange rate for currencies already in the Currency List. To do this, select the currency, then enter the new rate in the Amt Per $ / $ Per Amt field.
Resources (2)
About the Author
Melissa King began writing in 2001. She spent three years writing for her local newspaper, 'The Colt,' writing editorials, news stories, product reviews and entertainment pieces. She is also the owner and operator of Howbert Freelance Writing. King holds an Associate of Arts in communications from Tarrant County College.
Photo Credits
- Jack Hollingsworth/Photodisc/Getty Images
Choose Citation Style
King, Melissa. 'How to Add Foreign Currency to Quicken.' Small Business - Chron.com, http://smallbusiness.chron.com/add-foreign-currency-quicken-64077.html. Accessed 21 November 2019.
King, Melissa. (n.d.). How to Add Foreign Currency to Quicken. Small Business - Chron.com. Retrieved from http://smallbusiness.chron.com/add-foreign-currency-quicken-64077.html
King, Melissa. 'How to Add Foreign Currency to Quicken' accessed November 21, 2019. http://smallbusiness.chron.com/add-foreign-currency-quicken-64077.html
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