How to Set Up Multicurrency in QB Sync Made Easy
Introduction
Managing transactions involving multiple currencies efficiently is crucial for today’s business.
QB Sync Made Easy provides a robust solution for synchronizing data between QuickBooks and Salesforce. This integration also enables you to handle currency management in transactions by supporting currency symbols. However, it’s important to note that it does not handle currency conversion.
With this article, we aim to guide users through the setup and utilization of multicurrency features in QB Sync Made Easy, offering seamless integration and accurate representation of financial data.
Handling Currencies with QB Sync Made Easy
If you want to utilize the currency features of QuickBooks and Salesforce, QB Sync Made Easy makes it possible for you. Though QB Sync Made Easy does not facilitate currency conversion, it allows users to work with various currency symbols.
When syncing records from QuickBooks to Salesforce or vice versa, the currency in the Salesforce record will be in the home currency, regardless of the original currency in QuickBooks, and vice versa.
The app by default utilizes the home or default currency.
However, if you are looking to sync records with a single currency, fixed currency, or multicurrency, you will have to do the following mappings in the current company setup of the app.
Let’s walk you through the currency mapping process in QB Sync Made Easy:
Currency Set Up in QB Sync Made Easy
Single Currency Setup:
If you want to set a Single currency, first check if the default currencies in QB and Salesforce match.
Steps to check if the default currencies in both Salesforce and QuickBooks match:
1. Navigate to the QBsync app, click on the setup button on the company, and verify if the default currencies match.
2. If the default currencies match, no further configuration is required. Proceed with the sync process.
3. If default currencies do not match, an error will be displayed, and you need to address the currency mismatch before proceeding otherwise, there may be a currency mismatch.
Multicurrency Setup:
If multicurrency is enabled in your Salesforce org, leverage the ‘currencyisocode’ field in mapping.
Check if the QuickBooks objects you are using (e.g., customer, invoice) have a ‘currencyref.value’ field.
Map the ‘currencyref.value’ field with the ‘currencyisocode’ field in Salesforce.
Alternatively, create a custom field to store currency codes and map it in the configuration.
Hardcoding Currency:
In case, you want a constant currency instead of using the currency iso code field or any other custom fields, you can just select constant in mapping and enter the currency code that you want.
Fixed QB Currency:
If you want records created in QuickBooks from Salesforce to have a fixed currency, use the ‘currencyref.value’ field in mapping.
Perform constant mapping by filling the ‘constant currency code’ field with the desired currency codes (e.g., ‘USD’, ‘INR’).
Conclusion:
We hope the article helps you map currencies as per your preferred transaction needs. If you further need any clarification on the currency setup in QB Sync Made Easy, our support team is always ready to assist you. Feel Free to reach out!
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