In the current AccountRight multi-currency version, bank transfer between two foreign currency accounts is not possible. E.g. entry between EURO to EURO bank transfer. The previous desktop version al...
This is absolutely necessary. It's right there in the name: "multi-currency". It's not called "AUD plus one". :)
This needs to flow through to everywhere in the system - there should be no restrictions on what currencies are allowed for what transactions into what accounts. If I issue invoices in AUD I want to be able to receive payments in GBP or USD directly against those invoices without needing a currency holding account. Surely the purpose of multi-currency is to make holding accounts a thing of the past?
It's actually even worse than this because I can't do transfers between two MYOB bank/credit card accounts both in GBP. It's clunky and introduces too many places for error to require a GBP to GBP transaction to be done via a holding account.
I understand there is a combinatorial explosion of FX rates if you allow any currency to any currency. You could easily solve this by requiring the customer to enter a FX for anything non-AUD to anything non-AUD. I'd be quite happy to do that if it meant any currency was accepted for any transaction into any account - this is my basic expectation for a multi-currency feature. I'm told Xero allows this... and if that's true, this one feature is enough for me to consider migrating, even with the costs of a multicurrency migration.