It is great that MYOB has multi currency but we dont have a field where we can display the purchase price. Like when you buy from overseas and pay in say USD there is no field where you can put this ...
Can you please make a provision in the stock items to put in the purchase price in foreign currency. At the moment I am putting it in descriptions under item details which is not ideal. We need a dedicated field to put the price in.
When you raise a purchase order this should be in foreign currency as that is what we aree paying and ideally it should pick up the purchase price that has been set in the field dedicated as overseas purchase price.
Besides we cannot even find out what we paid previously as it all takes it in local currency and that too the landed cost not the purchase price.
Hi Claro
I don't know if this helps, but I am using AccountRight 2020.2 and I have entered the purchase price in foreign currency into "Standard Cost" for our inventory. When I create a purchase order from the Stock Alert, it puts the correct pricing in for me at "Price". Then I change the currency for the PO to "SGD" and the "Standard Cost" shows correctly in the "Price (SGD)" column - so that works well for me. I also just checked and creating a PO from an Order seems to work this way as well.
The value of the Inventory account on the Balance Sheet seems to work on the "Last Purchase Price" so that seems ok? I'm not sure if there are any other ramifications of me doing things this way...
(Prior to upgrading I was using the old Premier 19 with a fixed currency exchange rate to convert the foreign currency purchase price into the NZD Standard Cost field and then using that foreign currency rate whenever I created a PO and that worked too.)
I hope this helps.
Caroline