Here's what happens when you export international orders from Shopify:

1. Customer in Germany pays €85.00
2. Shopify converts to your payout currency (e.g., USD) at that day's rate
3. You receive $92.50 in your payout
4. Shopify exports show €85.00 (original currency)
5. QuickBooks expects USD (your home currency)

The mismatch: Shopify exports the customer-facing currency. QuickBooks needs your home currency. If you import €85 as-is, your books are wrong.

Shopify's order export includes several currency-related columns:

Before importing international orders, configure QuickBooks:

Enable Multi-Currency (One-Time Setup)

1. Go to Settings (gear icon) → Account and Settings
2. Click Advanced tab
3. Find Currency section
4. Turn on Multi-currency
5. Set your Home Currency (e.g., USD)

⚠️ Warning: Once enabled, multi-currency cannot be turned off. Make sure you need it before enabling.

Add Foreign Currencies

1. Go to Settings → Currencies
2. Click Add currency
3. Select currencies you receive orders in (EUR, GBP, CAD, etc.)

You have three options for importing international orders:

Option 1: Convert to Home Currency Before Import (Recommended)

Method: Convert all amounts to USD using the exchange rate from the order date.

Pros:

• Simple — all transactions in one currency
• Matches your bank deposits
• No multi-currency QuickBooks features needed

Cons:

• Lose visibility into original currency amounts
• Exchange rate differences vs. actual payout

Option 2: Import in Original Currency

Method: Import EUR orders as EUR, GBP as GBP, etc.

Pros:

• Preserves original transaction amounts
• Better for businesses tracking by currency

Cons:

• Requires QuickBooks multi-currency enabled
• Bank reconciliation is harder
• Currency gain/loss accounts needed

Option 3: Use Payout Data Instead

Method: Ignore order export. Import from Shopify Payouts instead.

Pros:

• Matches bank exactly
• Already in your home currency
• Includes fees

Cons:

• Less detail per order
• Payouts bundle multiple orders

Our converter uses Option 1 by default: convert to home currency.

Conversion Process

1. Detect the Currency column in your Shopify export
2. For non-USD orders, apply the exchange rate from the order date
3. Convert all amounts (Total, Subtotal, Tax, Shipping) to USD
4. Preserve original currency in the Memo field for reference

Why Amounts Don't Match Exactly

You might notice small differences between:

• Converted order amount in QuickBooks
• Actual payout from Shopify

Reasons:

1. Rate timing: Shopify converts at moment of sale, ECB rate is daily snapshot
2. Rate spread: Shopify may use slightly different rate than ECB
3. Shopify fees: 2.9% + $0.30 deducted from payout
4. Currency conversion fee: Shopify charges 1-2% for currency conversion

Accounting for Differences

For small differences (under $10/month), most accountants recommend:

• Record orders at converted amount
• Let bank reconciliation catch the difference
• Book difference to "Exchange Rate Variance" expense account

For larger volumes, consider using payout-based accounting instead of order-based.

European Union (EUR)

• Most common foreign currency for US sellers
• ECB rate is the gold standard
• VAT may be included — check your Shopify settings

United Kingdom (GBP)

• Post-Brexit: may have customs fees
• GBP/USD is volatile — rates change significantly
• VAT at 20% usually included for UK customers

Canada (CAD)

• CAD/USD typically 1.30-1.40 range
• GST/HST may apply depending on province
• Many Canadian customers pay in USD anyway

Australia (AUD)

• AUD/USD typically 0.65-0.75 range
• GST at 10% for Australian customers
• Consider AUD-specific pricing in Shopify

1. Pick one method and stick to it

   Consistency matters more than perfection. Don't switch between home-currency and original-currency recording.

2. Document your exchange rate source

   Keep a record of where your rates come from (ECB, XE.com, your bank) for audit purposes.

3. Reconcile monthly, not per-transaction

   Small FX differences are normal. Reconcile total sales + total payouts monthly.

4. Create an Exchange Variance account

   Set up an expense account called "Exchange Rate Variance" or "Currency Gain/Loss" for the differences.

5. Consider separate bank accounts

   If you have significant EUR or GBP volume, consider Wise or Mercury accounts in those currencies. Reduces conversion fees.