Forum Discussion

ozeami's avatar
Experienced Cover User
4 years ago

Foreign Currency - Receivables Reports Corrupted!


We are having major issues whereby even though we only have 4 invoices open as paybale with one of them being in USD our aged receivables reports tells a completely different story with various amounts owning on various client invoices going as far back as 8 years ago which is the duration which we still keep transaction reports!


This makes our aged receivable reports, statement reports and "to do list" receivables completely useless. 


Below is what our actual receivables is:



Below is what MYOB Aged receivables and receivables to do list spits out. None of these invoices have anything owing on them. 




Below is a look into one of these invoices which is showing as still owing a large amount:

The invoice itself is also showing "0" balance as owing. 


When we look at the payment/transaction history of this invoice we see the following:



There is a difference in the calculated AUD amount of the invoice at the time of the invoice and the AUD equivalent amount of the payment which is expected if there is FX change between payment received and invoice issued which should normally show up as FX gain or loss however the "Balance due" amount makes no sense as it is completely different from the difference of the AUD Equivalent Payment and AUD equivalent invoice and should not even be showing up as "balance due" . There seems to be some serious issues/flaws with the way Foreign currency is handled in MYOB and this is causing us allot of problems!!


We need assistance on this in an urgent manner! 


All of these invoices are USD and they have been fully paid and fully closed with the exception of the 1 invoice which is still open as per provided screen shots. 







  • Hi ozeami 


    Based on the information we are seeing from the screenshots, we'd like to get a copy of the current AccountRight 2020 and pre-migrated AccountRight Classic (v19) company files in for an investigation and possible repair. Shortly we'll receive an email to get that actioned. All the information required to get that file in would be included in that email, however, don't hesitate to get in touch if you require further assistance.

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  • Mike_James's avatar
    Ultimate Partner

    Hi ozeami , whilst I agree there is an issue with the To-Do list, what do your Receivables Reconciliation summary and detail reports look like - are they accurate?

    • ozeami's avatar
      Experienced Cover User

      Hi Mike_James 


      The Receivables Reconciliation (Summary & Detailed) in AUD has the same issue. See below. 



      The Receivables Reconciliation (Summary & Detailed) in USD (Originating currency) don't have the issue in AUD but still show the cards with errors on the report with Zero figures. (Include Zero Balanced box is unticked)



      The Aged Receivables (Summary & Detailed) has the same issue.




      Likewise when we go to print/email statements the AUD amounts shown are off for many accounts however when we send the actual statement via email the statement shows NIL balance!! There is somethign seriously flawed in the system when it comes to foreign currency transactions which has also seriously concerned. 



      There should only be 4 cards open with amounts showing next to them for statement print. 


      • Steven_M's avatar
        Former Staff

        Hi ozeami 


        I personally haven't come across this situation per say and testing it within my software it does appear to be working as I would expect.

        I wonder if you can provide some additional context around how it has come about? i.e. have you recently migrated across from AccountRight Classic and this is what has occurred after the migration? OR have these transactions recently cropped as being unpaid when previously they were in AccountRight 2020 (if so, did it occur when upgrading to AccountRight 2002.3?


        As something to try I would recommend clearing your company files cache in case that is impacting that situation. While something that we would need to try I doubt looking at the screenshots it will have a large impact on the situation.