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Item Price not entering correctly on Purchase Order

DJWP
1 Post
Cover User
Australia

Item Price not entering correctly on Purchase Order

Im sure that there is a very simple fix to my problem but for the life of me I cant work it out.

I have 100's of Inventory Items set up with all of my pricing working pefectly, except for one.

I have a Lables Charge to be entered on a Purchase Order which I then have to enter in on a Sales Invoice.

The Item is set up as a Buy cost of EUR0.25 with FRE GST and the Sales cost is EUR0.125 with FRE GST.  The Sales entry works fine but the Purchase Order entry comes up as EUR0.1775 and I have to manually override it to 0.25 each time.

I have checked the format of the item, the Purchase Order, and the GST component!  What am I missing?  If anyone could help. that would be greatly appreciated.

1 REPLY
MYOB Moderator Steven_M
17,546 Posts
MYOB Moderator
New Zealand

Re: Item Price not entering correctly on Purchase Order

Hi @DJWP

 

Welcome to the MYOB Community Forum, I hope you find it a wealth of knowledge


When dealing with multiple currencies and inventory the dollar value that you are entering into the Item Information window is the local currency value.

 

In your case you are actually entering 0.125 AUD* as that buying price. This does mean when doing a purchase for a foreign supplier i.e. a Supplier that deals in Euros the exchange rate for that currency is being taken into account. Now you mentioned that it shows up as 0.1775 which means that exchange rate set on your card is around the 1.40 mark (1 AUD being 1.40 Euro).  

If you did want to show the price of that item on a purchase to be 0.125 you would either need to the set the currency exchange rate for the Euro currency (Lists>>Currencies>>Select Euro) to be 1.00000 so 1 AUD equals 1 Euro. Or work out what the buying price of the Euro currency exchange rate equivalent of the AUD to give you the required value, do not if the exchange rate does change then that would mean adjusting the item's buying price.

Do let us know how you get on and if you require further assistance.

 

*Assuming you have used AUD as the local currency.


Kind Regards,
Steven
MYOB Client Support
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