Statement in USD Showing Payments applied in AUD!!

Question

In the latest version of MYOB Accountright there are several MAJOR bugs with the way foreign currency transactions are being handled. In addition to my previous post regarding backorders not being handled correctly and closed invoices still appearing under open invoices tab another bug has been found as well.

USD statements are now showing partial payments being applied in AUD and showing incorrect leftover amounts on the invoices!!

For instance:

We have an invoice of USD15,042.49 which has had 3 payments applied to it being: USD672.75 (AUD989.34), USD8,725.05 (AUD12956.71) & USD962.70 (AUD1446.37) and it has USD4,681.99 still owing on it.

When a statement is issued for the client, the invoice is shown as USD15,042.49 but the payments are deducted from the invoice in AUD!! and the owing amount is being shown as "-$349.93" because naturally if you deduct AUD989.34 + AUD12956.71 + AUD1446.37 from USD15,042.49 and ignore the currencies you are left with "-$349.93". I am speechless and extremly concerned at this point that we have entrusted our entire accounting records with a company that is now choosing to ignore currencies alltogether!

Attached are the screenshots of this mess! I don't understand who is carrying out QA/QC on the companies relentless releases but it is very worrying that we are relying on a software that it can't get the most basic task of handling multiple currencies right!!

shella_a · Answer

Hi ozeami,
&nbsp;
Thanks for your post and for providing the screenshot of the statement. When running statements for a customer using multi-currency, there is a balance issue at the bottom of the page where the total amount due doesn't match the card's balance. This affects both invoices and activity statements. This is because if a credit note has been applied to an invoice, it uses the local currency rate rather than the foreign currency, causing an Out of Balance at the bottom of the page.
&nbsp;
Invoice type statements will also show an incorrect running balance in addition to the following:

Activity type statements by comparison will have a correct running balance but an incorrect total amount due.

&nbsp;
Currently, the workaround for this is to refer to the running balance on the activity statement, which has the correct figures showing. Rest assured that this has already been logged for fixing for a later release. Should you require additional assistance, don't hesitate to respond. We also encourage you to connect with our virtual assistant, MOCA, through this link: myob.com/support, for prompt support.
&nbsp;
Otherwise, if my response has answered your inquiry, please click "Accept as Solution" to help other users find this.&nbsp;
&nbsp;
&nbsp;
Kind regards,
Shella

ozeami · Answer

Shella_A&nbsp; &nbsp;The statements are what is sent via the system to our clients. (Many large coorporates I might add).&nbsp;&nbsp;We know what the correct figures are supposed to be so saying that they are showing correctly in "Activity type statements" doesn't really help the issue. Our clients requrie invoice statements to be sent to them on a fornitghtly basis so to have statements sent which are showing all incorrect balances is not only unprofessional and wrong but also causes huge issues with reconciliation on their side and this is now a recurring issue day to day!&nbsp;&nbsp;This is a high priority problem. So once again to not have an exact time and date for the fix to this problem and just to say "This&nbsp;has already been logged for fixing for a later release" is not good enough I am afraid.&nbsp;&nbsp;Exact same problem as my other post. MYOB is charging clients for a subscription service whereby "improvements" are supposed to be made not for MYOB to break the system on an ongoing basis! Additionally, we had none of these types of issues when we were using Server based versions of the app for over 15 years!&nbsp;&nbsp;This is simply unacceptable!&nbsp;

southeast_it · Answer

I also have clients with this issue who would love to have this resolved. Is there a way to get an update on when these types of issues are marked to be resolved or to help push for a higher priority?

isaiah_c · Answer

Hi SouthEast_IT,
&nbsp;
This issue has been relayed to our development team, who are actively working on it. We appreciate your patience as we resolve this.&nbsp;
&nbsp;
In the meantime, please continue using the workarounds provided.
&nbsp;
Regards,
Sai
&nbsp;

ozeami · Answer

Isaiah_C&nbsp;&nbsp;Just to clarify, there is "NO SOLUTION" and "NO WORKAROUNDS" for this problem.&nbsp;&nbsp;"refer to the running balance on the activity statement, which has the correct figures showing. " &lt;-- THIS IS NOT A WORKAROUND.&nbsp;&nbsp;&nbsp;When 10x statements are sent to 10 different corporates on a weekly basis we can't send them all a message saying "Sorry guys, the accounting software we are using is completely stuffed so just "refer to the running balance on the activity statement, which has the correct figures showing"....&nbsp; &lt;-- THIS IS NOT A WORKAROUND!&nbsp;&nbsp;And it has been 4 months since we reported this issue. I believe 4 months is more than enough time for MYOB to get its act together and fix a problem that they introduced into a release which was not there before!!&nbsp;&nbsp;PLEASE ESCELATE THIS MATTER TO HIGHER MANAGEMENT. Your response is not acceptable.&nbsp;

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Statement in USD Showing Payments applied in AUD!!

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