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almel59's avatar
almel59
Partner
5 days ago

Foreign exchange rates 30/6/2024

In Tax the year end average per MYOB software is using the exchange rate as at 31/12/23 not 30/6/2024

I tried a 2 different currencies and both had the incorrect rate 

 

When will this be fixed  ?

AU Tax

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  • Isaiah_C's avatar
    Isaiah_C
    MYOB Moderator
    5 days ago

    Hi almel59,

     

    Thank you for the post. Please try to enable the live exchange rates by going to Setup> Preferences. Navigate to the System tab and check the option 'Turn on Live Exchange Rates'.

     

    Regards,

    Sai

     

    • almel59's avatar
      almel59
      Partner
      5 days ago

      We are using MYOB AE desktop version not cloud based ?

      I cannot see any Tab for Setup 

  • Daljit_K's avatar
    Daljit_K
    MYOB Staff
    5 days ago

    Hi almel59,

    ATO released the exchange rates for financial year ending 30 June 2024 on 9th July 2024. Hence, when we released the tax 2024 software, we didn't have the latest rates. These updated rates would be included in the 1st service pack release next month. In the meantime, you can use ATO tables to manually change the rate on the tax form and use it. 

    ATO Link 

    https://www.ato.gov.au/tax-rates-and-codes/foreign-exchange-rates-annual-2024-financial-year

     

    Regards

    Daljit