fivetran-avinash · Sep 16, 2026 · Aug 29, 2026 · Sep 1, 2026 · Sep 2, 2026 · Sep 2, 2026
diff --git a/.quickstart/quickstart.yml b/.quickstart/quickstart.yml
@@ -25,6 +25,8 @@ table_variables:
   using_estimate:
     - estimate
     - estimate_line
+  using_exchange_rate:
+    - exchange_rate
   using_invoice:
     - invoice_linked_txn
     - invoice_line
@@ -136,9 +138,15 @@ supported_vars:
   quickbooks__home_currency:
     type: string
     value: ""
-    description: "The primary reporting currency, use the same 3-letter ISO currency code (e.g., USD, EUR, GBP, CAD) that appears in your QuickBooks `currency_id` field. Relevant for organizations with multiple currencies, this field defaults to an empty string; when not set, the package applies exchange rate conversions to all transactions, regardless of currency."
+    description: "The primary reporting currency, use the same 3-letter ISO currency code (e.g., USD, EUR, GBP, CAD) that appears in your QuickBooks `currency_id` field. Relevant for organizations with multiple currencies, this field defaults to an empty string; when not set, the package applies exchange rate conversions to all transactions, regardless of currency. Required if 'Enable Report-Date Balance Sheet FX Conversion' is true."
     display_name: "Home Currency"
 
+  using_report_date_fx_conversion:
+    type: boolean
+    value: false
+    description: "Enable to revalue foreign-currency balance sheet accounts using the exchange rate as of the report date, matching how QuickBooks Online calculates balance sheet conversions. Requires 'Home Currency' to also be set and the `EXCHANGE_RATE` source table to be synced."
+    display_name: "Enable Report-Date Balance Sheet FX Conversion"
+
   quickbooks__exchange_gain_loss_enabled:
     type: boolean
     value: false

diff --git a/CHANGELOG.md b/CHANGELOG.md
@@ -1,3 +1,19 @@
+# dbt_quickbooks v1.10.0
+
+[PR #223](https://github.com/fivetran/dbt_quickbooks/pull/223) includes the following updates:
+
+## Schema/Data Change (--full-refresh required if `using_report_date_fx_conversion` is enabled)
+**2 total changes • 0 possible breaking changes**
+
+| Data Model(s) | Change type | Old | New | Notes |
+| ---------- | ----------- | -------- | -------- | ----- |
+| `quickbooks__general_ledger_by_period`, `quickbooks__balance_sheet` | Opt-in calculation change for `converted_amount` fields |  Converted balance summed from each transaction's own transaction-date exchange rate | For balance sheet accounts, re-converts the native `period_ending_balance` using the exchange rate as of the period's last day | Opt-in via the new `using_report_date_fx_conversion` variable (default `false`); falls back to the legacy method if disabled or if no matching exchange rate is found. No existing customer is affected unless this variable is enabled. **Requires a `--full-refresh` after enabling this variable for the change to apply to historical data.** |
+| `stg_quickbooks__exchange_rate`, `stg_quickbooks__exchange_rate_tmp` | New staging models | |  | Brings in the new `EXCHANGE_RATE` source table so historical exchange rates can be looked up by date and currency pair. Consumed by `int_quickbooks__general_ledger_balances` to look up the report-date rate for the opt-in conversion described below. |
+
+## Feature Update
+### Report-Date Balance Sheet FX Conversion
+- Adds the `using_report_date_fx_conversion` variable (default `false`) to opt into revaluing foreign-currency balance sheet accounts (Bank, AR, AP, Credit Card, Equity, Fixed Asset, etc.) using the exchange rate as of the report date, matching how QuickBooks Online itself calculates balance sheet conversions. Profit and loss accounts are unaffected, since period activity is already valued at the transaction date. See the [README](https://github.com/fivetran/dbt_quickbooks/tree/main#enabling-report-date-balance-sheet-fx-conversion) for configuration details.
+
 # dbt_quickbooks v1.9.2
 
 [PR #220](https://github.com/fivetran/dbt_quickbooks/pull/220) includes the following updates:

diff --git a/README.md b/README.md
@@ -71,7 +71,7 @@ Include the following QuickBooks package version in your `packages.yml` file.
 ```yaml
 packages:
   - package: fivetran/quickbooks
-    version: [">=1.9.0", "<1.10.0"] # we recommend using ranges to capture non-breaking changes automatically
+    version: [">=1.10.0", "<1.11.0"] # we recommend using ranges to capture non-breaking changes automatically
 ```
 
 > All required sources and staging models are now bundled into this transformation package. Do not include `fivetran/quickbooks_source` in your `packages.yml` since this package has been deprecated.
@@ -125,6 +125,7 @@ vars:
   using_department: false # disable if you don't have departments in QuickBooks
   using_deposit: false # disable if you don't have deposits in QuickBooks
   using_estimate: false # disable if you don't have estimates in QuickBooks
+  using_exchange_rate: false # disable if you don't have exchange rates in QuickBooks
   using_invoice: false # disable if you don't have invoices in QuickBooks
   using_invoice_bundle: false # disable if you don't have invoice bundles in QuickBooks
   using_journal_entry: false # disable if you don't have journal entries in QuickBooks
@@ -223,6 +224,26 @@ vars:
   quickbooks__exchange_gain_loss_enabled: true
 ```
 
+#### Enabling Report-Date Balance Sheet FX Conversion
+
+By default, balance sheet accounts held in a foreign currency are converted by summing each underlying transaction's own transaction-date exchange rate. QuickBooks Online instead revalues the account's cumulative native-currency balance using the exchange rate as of the report date, which can produce different converted balances for point-in-time accounts (Bank, Accounts Receivable, Accounts Payable, Credit Card, Equity, Fixed Asset, etc.).
+
+Enable this feature if you want `converted_amount` on balance sheet accounts to match QuickBooks Online's own report-date revaluation approach. This does not affect profit and loss accounts, since period activity is already correctly valued at the transaction date.
+
+**This feature requires `quickbooks__home_currency` to also be set** (see [Configuring Your Home Currency for Multicurrency Support](#configuring-your-home-currency-for-multicurrency-support) above) **and the `EXCHANGE_RATE` source table to be synced** (`using_exchange_rate` enabled). The exchange rate lookup matches on your home currency as the conversion target, so without it the lookup never finds a matching rate and every account silently falls back to the legacy method.
+
+To enable, add the following variables to your `dbt_project.yml`:
+
+```yml
+vars:
+  using_report_date_fx_conversion: true
+  quickbooks__home_currency: "USD"  # replace with your home currency code
+```
+
+If a matching exchange rate isn't available for an account's currency as of the period's last day, the package falls back to the legacy transaction-date summation method for that account and period.
+
+> IMPORTANT: If you enable `using_report_date_fx_conversion`, you need to run a `--full-refresh` for the change to take effect on historical data.
+
 #### Customize the Cash Flow Model
 **IMPORTANT**: It is very likely you will need to reconfigure your `cash_flow_type` to make sure your cash flow statement matches your specific use case. Please examine the following instructions.
 

diff --git a/dbt_project.yml b/dbt_project.yml
@@ -1,7 +1,7 @@
 config-version: 2
 name: 'quickbooks'
 
-version: '1.9.2'
+version: '1.10.0'
 
 require-dbt-version: [">=1.3.0", "<3.0.0"]
 
@@ -47,6 +47,7 @@ vars:
     estimate: "{{ source('quickbooks', 'estimate') }}"
     estimate_line: "{{ source('quickbooks', 'estimate_line') }}"
     estimate_tax_line: "{{ source('quickbooks','estimate_tax_line') }}"
+    exchange_rate: "{{ source('quickbooks', 'exchange_rate') }}"
     invoice_line: "{{ source('quickbooks', 'invoice_line') }}"
     invoice_line_bundle: "{{ source('quickbooks', 'invoice_line_bundle') }}"
     invoice_linked_txn: "{{ source('quickbooks', 'invoice_linked_txn') }}"
@@ -97,6 +98,7 @@ vars:
     using_sales_receipt: true
     using_credit_card_payment_txn: false
     using_purchase_order: false
+    using_exchange_rate: true
     quickbooks__tax_lines_enabled: false
     using_invoice_tax_line: false
     using_journal_entry_tax_line: false
@@ -110,6 +112,7 @@ vars:
     using_tax_agency: false
     using_tax_rate: false
     quickbooks__exchange_gain_loss_enabled: false
+    using_report_date_fx_conversion: false
 
 analysis-paths: ["analysis"]
 clean-targets:

diff --git a/docs/catalog.json b/docs/catalog.json
diff --git a/docs/manifest.json b/docs/manifest.json
diff --git a/integration_tests/ci/test_scenarios.yml b/integration_tests/ci/test_scenarios.yml
@@ -43,6 +43,17 @@ test_scenarios:
       quickbooks__exchange_gain_loss_enabled: true
     include_incremental: false
 
+  - name: "Exchange Rate disabled"
+    vars:
+      using_exchange_rate: false
+    include_incremental: false
+
+  - name: "Report-Date FX Conversion enabled"
+    vars:
+      using_report_date_fx_conversion: true
+      quickbooks__home_currency: "USD"
+    include_incremental: false
+
   - name: "Tax Lines enabled"
     vars:
       quickbooks__tax_lines_enabled: true

diff --git a/integration_tests/dbt_project.yml b/integration_tests/dbt_project.yml
@@ -1,5 +1,5 @@
 name: 'quickbooks_integration_tests'
-version: '1.9.2'
+version: '1.10.0'
 
 profile: 'integration_tests'
 config-version: 2
@@ -31,6 +31,7 @@ vars:
     quickbooks_deposit_identifier: "deposit_data"
     quickbooks_estimate_identifier: "estimate_data"
     quickbooks_estimate_line_identifier: "estimate_line_data"
+    quickbooks_exchange_rate_identifier: "exchange_rate_data"
     quickbooks_invoice_identifier: "invoice_data"
     quickbooks_invoice_line_identifier: "invoice_line_data"
     quickbooks_invoice_line_bundle_identifier: "invoice_line_bundle_data"
@@ -81,6 +82,7 @@ vars:
   # using_estimate_tax_line: true # @docs-include
   # using_tax_agency: true # @docs-include
   # using_tax_rate: true # @docs-include
+  # using_report_date_fx_conversion: true # @docs-include
 
 seeds:
   +docs:
@@ -133,6 +135,10 @@ seeds:
     estimate_line_data:
       +column_types:
         amount: "{{ 'FLOAT64' if target.type == 'bigquery' else 'float' }}"
+    exchange_rate_data:
+      +column_types:
+        as_of_date: date
+        rate: "{{ 'FLOAT64' if target.type == 'bigquery' else 'float' }}"
     invoice_data:
       +column_types:
         due_date: date

diff --git a/integration_tests/seeds/account_data.csv b/integration_tests/seeds/account_data.csv
@@ -31,7 +31,10 @@ id,_fivetran_synced,account_number,account_sub_type,account_type,active,balance,
 92002,2026-02-01 12:00:00,9202,AccountsReceivable,Accounts Receivable,TRUE,0,0,Asset,2026-01-15 00:00:00,EUR,EUR accounts receivable account,Accounts Receivable EUR,Accounts Receivable EUR,,FALSE,1,,2026-01-15 00:00:00,FALSE
 93001,2026-01-15 00:00:00,9301,ExchangeGainOrLoss,Other Income,TRUE,0,0,Revenue,2026-01-15 00:00:00,USD,Exchange gain or loss account,Exchange Gain or Loss,Exchange Gain or Loss,,FALSE,1,,2026-01-15 00:00:00,FALSE
 93002,2026-01-15 00:00:00,9302,AccountsPayable,Accounts Payable,TRUE,0,0,Liability,2026-01-15 00:00:00,EUR,EUR accounts payable account,Accounts Payable EUR,Accounts Payable EUR,,FALSE,1,,2026-01-15 00:00:00,FALSE
+94001,2020-02-01 12:00:00,9401,195917574edc9b6bbeb5be9785b6a479,Bank,TRUE,1800,1800,Asset,2020-01-01 00:00:00,CAD,RBC CAD checking account used to validate report-date FX conversion,RBC CAD Checking,RBC CAD Checking,,FALSE,1,,2020-01-01 00:00:00,FALSE
+94002,2020-02-01 12:00:00,9402,195917574edc9b6bbeb5be9785b6a479,Bank,TRUE,500,500,Asset,2020-01-01 00:00:00,GBP,GBP checking account with no matching exchange rate to validate fallback,GBP Checking,GBP Checking,,FALSE,1,,2020-01-01 00:00:00,FALSE
+94003,2020-02-01 12:00:00,9403,d225490f65343b9016d6db95c0b146d8,Expense,TRUE,600,600,Expense,2020-01-01 00:00:00,CAD,CAD travel expense account to validate P&L accounts are unaffected,CAD Travel Expense,CAD Travel Expense,,FALSE,1,,2020-01-01 00:00:00,FALSE
 20299,2026-02-10 12:00:00,2099,100fb8196b919896e083af2939bbffb3,Accounts Payable,TRUE,0,0,Liability,2026-02-10 00:00:00,GBP,Second AP account for fanout test,Misconfigured Loan Payable,Misconfigured Loan Payable,,FALSE,1,,2026-02-10 12:00:00,FALSE
 92003,2026-02-10 12:00:00,9203,AccountsReceivable,Accounts Receivable,TRUE,0,0,Asset,2026-02-10 00:00:00,GBP,Second AR account for JE lookup test,Accounts Receivable 2,Accounts Receivable 2,,FALSE,1,,2026-02-10 12:00:00,FALSE
 94101,2026-02-10 12:00:00,9401,AccountsReceivable,Accounts Receivable,TRUE,0,0,Asset,2026-02-10 00:00:00,GBP,Alternate GBP AR account to simulate multi-account ambiguity,Accounts Receivable GBP Alt,Accounts Receivable GBP Alt,,FALSE,1,,2026-02-10 12:00:00,FALSE
-94102,2026-02-10 12:00:00,9402,100fb8196b919896e083af2939bbffb3,Accounts Payable,TRUE,0,0,Liability,2026-02-10 00:00:00,GBP,Alternate GBP AP account to simulate multi-account ambiguity,Accounts Payable GBP Alt,Accounts Payable GBP Alt,,FALSE,1,,2026-02-10 12:00:00,FALSE
+94102,2026-02-10 12:00:00,9402,100fb8196b919896e083af2939bbffb3,Accounts Payable,TRUE,0,0,Liability,2026-02-10 00:00:00,GBP,Alternate GBP AP account to simulate multi-account ambiguity,Accounts Payable GBP Alt,Accounts Payable GBP Alt,,FALSE,1,,2026-02-10 12:00:00,FALSE
diff --git a/integration_tests/seeds/exchange_rate_data.csv b/integration_tests/seeds/exchange_rate_data.csv
@@ -0,0 +1,7 @@
+as_of_date,source_currency_code,target_currency_code,rate,created_at,updated_at,_fivetran_deleted
+2020-01-30,CAD,USD,0.745,2020-01-30 20:00:00,2020-01-30 20:00:00,FALSE
+2020-02-27,CAD,USD,0.77,2020-02-27 20:00:00,2020-02-27 20:00:00,FALSE
+2020-03-30,CAD,USD,0.75,2020-03-30 20:00:00,2020-03-30 20:00:00,FALSE
+2020-04-30,CAD,USD,0.80,2020-04-30 20:00:00,2020-04-30 20:00:00,FALSE
+2020-05-31,CAD,USD,0.78,2020-05-31 20:00:00,2020-05-31 20:00:00,FALSE
+2026-01-30,EUR,USD,1.08,2026-01-30 20:00:00,2026-01-30 20:00:00,FALSE
diff --git a/integration_tests/seeds/transfer_data.csv b/integration_tests/seeds/transfer_data.csv
@@ -1,3 +1,8 @@
 id,_fivetran_deleted,_fivetran_synced,amount,created_at,from_account_id,private_note,sync_token,to_account_id,currency_id,exchange_rate,transaction_date,updated_at
 72,FALSE,2020-07-22 19:17:01,31030,2020-07-22 19:06:55,54,caa9e319eab97752f883584868007db3,0,39,USD,,2020-07-23,2020-07-22 19:06:55
-125,FALSE,2020-10-28 1:36:52,79753,2020-10-28 1:16:11,54,5cde61c2a6fa9ae48a9129690d3e1632,0,39,USD,,2020-10-28,2020-10-28 1:16:11
+125,FALSE,2020-10-28 1:36:52,79753,2020-10-28 1:16:11,54,5cde61c2a6fa9ae48a9129690d3e1632,0,39,USD,,2020-10-28,2020-10-28 1:16:11
+90101,FALSE,2020-01-15 12:00:00,1000,2020-01-15 12:00:00,39,rbc_cad_transfer_1,0,94001,CAD,0.74,2020-01-15,2020-01-15 12:00:00
+90102,FALSE,2020-02-15 12:00:00,500,2020-02-15 12:00:00,39,rbc_cad_transfer_2,0,94001,CAD,0.76,2020-02-15,2020-02-15 12:00:00
+90103,FALSE,2020-03-15 12:00:00,300,2020-03-15 12:00:00,39,rbc_cad_transfer_3,0,94001,CAD,0.72,2020-03-15,2020-03-15 12:00:00
+90104,FALSE,2020-01-20 12:00:00,500,2020-01-20 12:00:00,39,gbp_transfer_fallback,0,94002,GBP,0.79,2020-01-20,2020-01-20 12:00:00
+90105,FALSE,2020-01-25 12:00:00,600,2020-01-25 12:00:00,39,cad_expense_pnl_check,0,94003,CAD,0.75,2020-01-25,2020-01-25 12:00:00
diff --git a/macros/get_report_date_fx_enabled.sql b/macros/get_report_date_fx_enabled.sql
@@ -0,0 +1,12 @@
+{% macro get_report_date_fx_enabled() %}
+
+{% set requested = var('using_report_date_fx_conversion', false) and var('using_exchange_rate', true) %}
+{% set home_currency = var('quickbooks__home_currency', '') %}
+
+{% if requested and home_currency == '' %}
+    {{ log("\n\nWARNING: `using_report_date_fx_conversion` is enabled but `quickbooks__home_currency` is not set, so report-date FX rates will not be found and the legacy converted balance will be used instead. Set `quickbooks__home_currency` to enable report-date conversion. See the README for setup details.\n", info=True) }}
+{% endif %}
+
+{{ return(requested) }}
+
+{% endmacro %}
diff --git a/macros/staging/get_exchange_rate_columns.sql b/macros/staging/get_exchange_rate_columns.sql
@@ -0,0 +1,15 @@
+{% macro get_exchange_rate_columns() %}
+
+{% set columns = [
+    {"name": "as_of_date", "datatype": "date"},
+    {"name": "source_currency_code", "datatype": dbt.type_string()},
+    {"name": "target_currency_code", "datatype": dbt.type_string()},
+    {"name": "rate", "datatype": dbt.type_float()},
+    {"name": "created_at", "datatype": dbt.type_timestamp()},
+    {"name": "updated_at", "datatype": dbt.type_timestamp()},
+    {"name": "_fivetran_deleted", "datatype": dbt.type_boolean()}
+] %}
+
+{{ return(columns) }}
+
+{% endmacro %}
diff --git a/models/docs.md b/models/docs.md
@@ -337,6 +337,22 @@ Boolean created by Fivetran to indicate whether the record has been deleted.
 The number of home currency units it takes to equal one unit of currency specified by `currency_id`.
 {% enddocs %}
 
+{% docs exchange_rate_table %}
+Table containing historical currency exchange rates used to convert amounts between currencies.
+{% enddocs %}
+
+{% docs as_of_date %}
+The date the exchange rate was effective as of.
+{% enddocs %}
+
+{% docs source_currency_code %}
+The currency code being converted from.
+{% enddocs %}
+
+{% docs target_currency_code %}
+The currency code being converted to.
+{% enddocs %}
+
 {% docs tax_rate_id %}
 The unique ID of the tax rate applied to this line.
 {% enddocs %}