Multi-currency Inventory Management for QuickBooks Users

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Multi-currency inventory management for QuickBooks users

In today’s global economy, being able to convert from one currency to another is essential for most businesses. For example, you might have vendors in China and Canada, customers in Europe, and offices in the United States. In that case, you would want to convert Yuan, Canadian dollars, and Euros into U.S. dollars for tax and accounting purposes.

You need to have not only an accounting solution that has multi-currency capabilities (like QuickBooks) but an equally capable inventory management system, as well. The multi-currency features to look for in an inventory management solution include the ability to:

  • Create multiple currencies for use in various orders and reports
  • Assign a currency to each of your vendors, shippers, and customers
  • Update currency values in relation to the U.S. dollar
  • Convert currencies into U.S. dollars
  • Integrate with QuickBooks to track finances in the proper currencies

Fishbowl currently offers the ability to use multiple currencies when creating Purchase Orders and Sales Orders. They are working on adding multi-currency features to every other part of its inventory management software.

Sign up for a free trial of Fishbowl and start putting its multi-currency inventory management features to use in your organization.

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