Income and Expense accounts in multicurrency ?

Hi again.

So you "heard" that QB does NOT report multi-currency income and expenses INCORRECTLY, nor does "most all other software".

Why do you think that NOT doing it INCORRECTLY would be a problem? It is unlikely to be a problem for most people, but you can choose to make it a problem for yourself if you wish.

These are not "ERRORS". What are you "SUPPOSED" to do? One choice, which you have previously resisted, is to do as your accountant advises. If you prefer to do about twice as much work you can simply NOT use the QB multicurrency feature - an option that is available in any accounting software.

Actually I would say it can't be done in any software package on the market today or in the future. I sugest you sit down with an accounting text book and read up on how to account for foreign currency transations. It has become crystal clear over the past few months that you do not have a clue as to what you are doing.

Allan,

You are incorrect.

Quickbook advises that you set up separate companies for each account.

Otherwise you are somewhat correct -- it shouldn't matter since the GL is always kept in the currencies.

Stop being so arrogant. Not everyone is a talented accountant. I wouldn't ask you to get a new pair of genes if you had downs syndrome.

Cheers

If, as one of your identities claims, you have Canadian QB, then you know this is not true.

Yes. You (or one of you) claims to own it.