Forum Discussion

Hayley_APC's avatar
Hayley_APC
Contributing User
4 years ago
Solved

Foreign exchange error with Ostendo

We use Ostendo over MYOB and lately have been getting an error when we post USD transactions in Ostendo and they transfer over to MYOB account right. I upgraded MYOB to 2020.3 thinking that might sol...
  • Steven_M's avatar
    Steven_M
    4 years ago

    Hi Hayley_APC 

     

    I would assume that the third-party application is interacting with AccountRight through the AccountRight API. 

    While the AccountRight API will allow the foreign currency fields to be read on a journal entry, you are not able to record foreign currency transactions through that API at this time. As such, those transactions will come through as local currency-based transactions.

Hayley_APC's avatar
Hayley_APC
Contributing User

It would appear the journal isn't converting to USD. See the attachment has been adjusted to USD so that the deposit shows up in the bank reco but when this comes over from Ostendo, the journal shows up in AUD and converts the amount to AUD which is why we believe it's showing up as VOID. Is there anyway to check why MYOB is converting the currency? 

Steven_M's avatar
Steven_M
Former Staff
4 years ago

Hi Hayley_APC 

 

I would assume that the third-party application is interacting with AccountRight through the AccountRight API. 

While the AccountRight API will allow the foreign currency fields to be read on a journal entry, you are not able to record foreign currency transactions through that API at this time. As such, those transactions will come through as local currency-based transactions.

  • Hayley_APC's avatar
    Hayley_APC
    Contributing User
    4 years ago

    Steven,

     

    Thank you. I will continue to adjust the currency manually in MYOB when I post these transactions then. Hopefully a future update will rectify this problem. 

     

    Thanks, 

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