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AccountRight

Multi-Currency: Select historical exchange rates

Partner

1Posts

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1 Post
Partner
Australia
New
New

Hi all

 

I have been waiting and waiting for the live exchange rates for the longest time (now using) not a fan – I was under the impression that historical rates were going to be stored/available as well.

 

Who in any business enters a purchase order transaction on the exact day it is dated or even received, as a bookkeeper (client doesn’t have access to MYOB) when I process I am processed the accounts a from a month ago or even more

 

It would be much more effect to also have historical daily rates stored in MYOB so you wouldn’t have to look up any currency as manually entering is susceptible to human error.

 

Just a suggestion, and would love any feed back 

 

"Premier 2019.2 Suggestion"

 

 

3 Comments
Experienced User
17 Posts
Experienced User

Until this feature is added, maybe inserting a Header line or additional line of the rate into each invoice?

Not ideal but at least you'll know what the rate was at that time.

Experienced Cover User
20 Posts
Experienced Cover User

I totally agree with you. Xero does it automatically.  If you enter a bill/invoice or receive/make a payment on another day it takes the multicurrency for that day not the current live rate.  we are having to go back and redo the currencies as they are incorrect - would be great to have historical available instead of having to look it up manually on the internet each time.

Experienced User
11 Posts
Experienced User

Just adding to this - I think historical rates are not only valuable but also a necessity. The live rates feature is essentially pointless without consideration of the document date. 

 

If we can have this considered to be added that would make the feature valuable. 

 

As the post above suggests, the live rate is pretty much always going to require overriding as the invoice date and upload date to MYOB are rarely the same.