22-06-2012 03:17 PM
Hi all, I am currently working for an importer who purchased goods from overseas and sell them to wholesalers here.
The company is using accountright plus, as this is our first year operating (at a loss) the director wasn't really keen to upgrade to MYOB Premier due to the cost involved.
We get invoice from our overseas suppliers in USD, and we have a USD account with commbiz. We do not export overseas.
I'd appreciate If I can get some help on how to process these transactions in MYOB Plus(without multi currency option):
- USD invoice from suppliers
-Money transfer from local AUD bank account to local USD bank account
24-06-2012 10:32 PM
You really only have 1 way to proceed
Enter the invoice with description incling USD amount and converting at spot rate on day use a site like xe.com to get the rate
On payment you will have to convert the invoice total to the actual paid total by entering a new line being the currency loss/gain.
Note you will have to make sure the security settings set so that you can amend invoices to do this
28-06-2012 07:31 PM
Thanks so much for the reply shoeboxguy,
If I'm using the item layout, how can i make an additional entry that I can allocate to the currency loss/gain account? is it a good idea to create an item called "curency loss/gain" with "I buy this item" ticked and allocated to the currency loss/gain (an income account on the chart of accounts)?
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