How much can QuickBooks Online automate the journal and multi-currency accounting?
Every year I put all transactions manually in the journal and I wonder if it could be easier.
I have multi-currency bank account with Wise and I publish accounts with TaxCalc.
I understand I could connect to the bank account and upload invoices. But what are the practical results?
QuickBooks is barely holding it together as it's not really multi-currency in the first place. I have a hard time believing this would actually work well with keeping track of liabilities, intellectual property, loans, taxes, refunds and so on. I checked out the accounting rules section, but nothing seems to relate to journal entries, it's rather keeping track of liquidity.
I hope for some great AI solution that could save me lots of work, but I'm skeptical. Can QuickBooks handle slightly complex use cases or is it mainly used to collect information for accountants?