Organizations that deal with customers and vendors overseas use the multi-currency setup in QuickBooks Online for recording foreign transactions easily. In a multi-currency setup, you will have a home currency set up in QuickBooks Online - any currency other than the home currency will be treated as foreign currencies and those transactions would require an exchange rate - to record the transactions in home currency.

If you are trying to export expenses from Fyle to QuickBooks when the home currency in Fyle is different from the home currency in QuickBooks Online, then you'll be required to set up your Fyle-QuickBooks Online integration with the settings mentioned in this article.

For example, if your home currency in QuickBooks Online is USD and you have vendors or customers in Canada, you will set up CAD as an additional currency. In this case, the home currency is USD, while CAD is a foreign currency. If CAD is your home currency in Fyle, then you'll have to export the expenses as 'Bills' so that the integration can set an exchange rate for the expenses to get exported successfully.

Note: This is a custom functionality enabled for specific users based on their requirements. So, to enable this, kindly reach out to [email protected] or your respective account manager.

Once we confirm that this functionality has been enabled for you, you can configure the integration settings with the below options:

Go to Configuration > Export Settings and set the mode of export as 'Bills' for reimbursable and/or corporate credit card expenses (Map your employees in Fyle to 'Vendors' in QuickBooks Online to be able to export 'Reimbursable Expenses' as 'Bills')
​

For Reimbursable Expenses, set an Accounts Payable account with the currency that matches the home currency in Fyle.

For Corporate Card Expenses, set a Default Corporate Card Vendor with the currency that matches the home currency in Fyle.

Click on Save.
​

You are now all set to export expenses from Fyle to QuickBooks Online when the home currency in Fyle is a foreign currency in QuickBooks Online. You have to ensure that the currency of the below are the same:

Note: The integration will be using the exchange rate from QBO which is one day before the export in order to match the exchange rate to the date of the expense.

​

If you need any help in setting this up, feel free to reach out to us on [email protected]
​