Hubdoc enables you to change the currency of a specific document or supplier. Please note that Hubdoc currently publishes foreign transactions using a 1:1 exchange rate.
To publish documents from this supplier to QBO, you will first have to configure your Multicurrency settings in QBO, and add a “Foreign Supplier.”
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 Supplier
Each supplier/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 supplier/supplier in QBO. Once you assign a currency, you cannot change it.
Please note: If it is a Supplier that operates internationally, you would have to create a new Supplier for each currency, and ensure each one is named differently (ie. Paypal (US), Paypal (CA)).
To add a foreign supplier in the supplier list:
1. Select Expenses from the left menu.
2. Select Supplier at the top.
3. Select New Supplier at the top right.
4. Enter the supplier's name and other information
5. In the I pay this supplier with field, select the supplier's currency if it is different than your company's home currency. This is the currency that you use to pay for this supplier's products and services.
6. Select Save.
You are now ready to publish your document from Hubdoc to QBO!