Forum Discussion

Member

4 years ago

Solved

Inventory value for orders that have had a deposit and final payment with different exchange rates

Hi Lets say we order 100 units USD1 each. A 50% prepayment is made when the exchange rate is 75c - AUD66.66 The final payment is made and the exchange rate is 70c - AUD71.43 Total cost AUD138 ...

Mike_James
4 years ago
Hi Thirsty , welcome to the forum.

The value of the entry to inventory will be the order(/bill) value converted at the exchange rate assigned to that transaction.

Any difference in the rates used on the deposit or final payment will be accounted for as realised currency variances

Ultimate Cover User

4 years ago

Hi Thirsty , welcome to the forum.

The value of the entry to inventory will be the order(/bill) value converted at the exchange rate assigned to that transaction.

Any difference in the rates used on the deposit or final payment will be accounted for as realised currency variances

Member

4 years ago

Hi Mike

Thanks for your reply.

Thirsty

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Level up your skills using MYOB software.

Find help guides and technical solutions for all MYOB products here

Explore video tutorials for our software at the MYOB Academy here

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.

MYOB Academy