When you connect your Venn account to QuickBooks or Xero, we first check your accounting platform’s base currency—typically CAD or USD. Based on this, we automatically create a clearing account titled either “Vault clearing from USD” or “Vault clearing from CAD”, depending on your home currency setting in QuickBooks or Xero.
This clearing account is needed to accurately record any future currency conversions made in Venn, helping to keep your books consistent and easy to reconcile.
Kindly avoid deactivating or editing any accounts you may be unfamiliar with, as doing so could disrupt the connection and lead to integration issues with your accounting platform.
Please also note: your accounting platform’s base currency is typically fixed and cannot be changed once set. If you need to update it, you’ll need to reach out to QuickBooks or Xero support directly.