foreign currency creditor payment

Question

Hi,

When we enter foreign currency creditor payment into the system, what is the currency taht we need to use in the amount field .

ex. if we pay USD to supplier , Inv USD $100 and in AUS $132.97 . Rate 0.752 ,

which currency  to use as value in amount field in myob exo. i am using single creditor payment entry.

Thank you so much

QuintinS · Accepted Answer

The Amount value is in the currency of the Supplier. So, in your example, you would enter 100.00 in the Amount field as the invoice is USD $100. In the Exchange Rate field, you would enter the exchange rate at which your bank processed the payment, e.g. 0.752. The system will automatically convert the USD to AUD based on this exchange rate.

Here is an example of paying a Creditor based in Singapore. The Creditor Invoice is SGD $100, with the exchange rate of 1.35, which is converted to AUD $47.07.