Accounting software for Bureau De Change

The business of Bureau de change requires you to treat your currencies as stock so that you can easily track sales and quantity available in your bank at every point in time.
We have deployed QuickBooks for Bureau de change in Lagos, to get yours, we have a video that will guide you on the process of implementing QuickBooks for your forex business in Kano, contact us at 08105090001

When you buy and sell currencies, are they classified as purchases and sales in QuickBooks for the P&L account ?

Hi Henry, when you buy currencies and sell currencies, you treat the transactions as purchases and sales under “inventory”, this will help you track the quantity purchased at a transaction rate and how many you have sold too at your own exchange rate, the difference between your buying and selling rate multiplied by the quantity sold is your profit which is then reported in your profit or loss.
I hope this helps