chocdb's avatar
Contributing Cover User
12 years ago

Multi-Currency: Sales exchange rate decimal place increase (5)

Dear MYOB I work in both Japanese Yen and US dollars accounts and would like to report an issue with the number of available decimal pleaces that MYOB uses for currency exchange. While the USD conversions work well given the relative similarity in figures for USD to AUD, this is not the same for JPY to AUD. For example, please see as follow:- I have a Japanese Yen amount of JPY2,867,542. To show this as the amount I received in my AUD account of $35,310.21, this needs an exchange rate of .012313754463736. If I use this exchange rate, MYOB rounds this exchange rate to 0.12314. That being the case, this recognises the money in as $35,310.91 needing a manual adjustment of 70 cents for this transaction. This is time consuming and an issue that I believe would be better addressed by MYOB is enabling a greater range of decimal places.


"Currency Decimal Place Limitation"


  • I am using a currency that needs 7 digits after the decimal point. Could you please allow for additional digits in the Exchange Rate field of the Currency Profile?

    e.g. .0006092 It allows you to put it all in but then rounds to 6 digits.


    'Need a longer field for exchange rate in Currency Profile"

    • The_Doc's avatar
      Ultimate Partner

      Hi Shawsett


      I agree it can be frustrating but your case is extremely rare - I use multi-currency NZ version all the time and the JPY rate because of this gets me and doesn't convert exactly.


      Currency rates only come out to 4 decimal places but you have some zeroes in there and that is very rare. ie. a conversion rate of 1641:1 - gosh what currency is that - ?? only 1 I can see is Indonesian Rupiah or Korean Won - but none of these come close?


      MYOB just does not do much to multi-currency - actually in 10 years I haven't seen anything notable change in multi-currency.


      I will vote for it but I think multi-currency just is very low on the pecking order.


      There are a lot of issues I would love addressed in multi-currency but ?????


      The Doc

    • Matthew_W's avatar
      MYOB Staff
      Status changed:
      Thank you for the suggestion, Shawsett. We can certainly consider this as an option to add into the Live version of Premier. To show the demand for this type of change please remember to vote for this idea.
    • Steven_M's avatar
      Former Staff
      Status changed:

      Thank you for the idea. Unfortunately, this request has had no support from the community since it was submitted, so we are moving this idea to the Archived status. For more information on Idea Statuses, please read this article: Changes to our Idea Exchange pages