Hubdoc enables you to change the currency of a specific document or vendor. To publish documents from this vendor to QBO, you will first have to configure your Multicurrency settings in QBO, and add a “Foreign Vendor.”
Step 1: Turn Multicurrency On in QBO
1. Click on the Gear icon.
2. Select Company Settings.
3. On the left hand side, select the Advanced tab, and then Currency.
4. Check the Multicurrency checkbox to turn on the multicurrency feature.
Step 2: Add a Foreign Vendor
Each vendor/supplier can be associated with only one currency. If the transaction you are publishing from Hubdoc is using a currency different from your Home Currency, you must assign a foreign currency to the vendor/supplier in QBO. Once you assign a currency, you cannot change it.
Please note: If it is a Vendor that operates internationally, you would have to create a new Vendor for each currency, and ensure each one is named differently (ie. Paypal (US), Paypal (CA)).
To add a foreign vendor/supplier in the vendor/supplier list:
1. Select Expenses from the left menu.
2. Select Vendor/Supplier at the top.
3. Select New Vendor/Supplier at the top right.
4. Enter the vendor/supplier's name and other information
5. In the I pay this vendor with field, select the vendor/supplier's currency if it is different than your company's home currency. This is the currency that you use to pay for this vendor/supplier's products and services.
6. Select Save.
You are now ready to publish your document from Hubdoc to QBO!