Share your ideas for improving the new AccountRight. Vote on ideas and discuss them with the MYOB product development team.

AccountRight

Multi currency (AR 2019) - More reports showing values in originating currency

MYOB Product Manager

22Posts

30Kudos

0Solutions

22 Posts
MYOB Product Manager
Australia
New
New

What reports are most important for you to see foreign values ie. values in originating currency

 

Would love to hear from you in the comments

 

Thank you.

 

 

12 Comments
Ultimate Partner jenniek
2,427 Posts
Ultimate Partner

Receivables Reconciliation Detail and Payables Rec Detail - a obsolutely required in originating currency

Ultimate Partner Mike_James
4,323 Posts
Ultimate Partner

AR/AP detailed reports. Yes. Of course.

Experienced Cover User RobertV
19 Posts
Experienced Cover User

Paying one of our foreign suppliers (in Euro), we have many invoices and orders in Euro for this supplier, each invoice can have 100 or more items, I found the Payable Reconciliation Summary report, where I can select the supplier and the originating currency that gives us one line with the amount owing in Euro, then when I go to the detailed report I dont have the option of the originating currency, it is in AUD Dollars and I need it in Euros, so i can reconcile the suppliers invoices (in Euro) against our purchase orders also in Euro's and that seems not possible,  its very dificult to see if the prices charged by the supplier match the euro prices entered on our order as we can only print the data in $$$ 

 

A solution would be appreciated

 

Robert

Partner booksplus
1 Post
Partner

Please please please put back the Purchase order report with original currency

nicolea
3 Posts
User

* Bank Reconcilations in originating currency

* Accounts Receivable reconciliation detail

* Accounts Payable reconciliaton detail

* Also, the ability to enter General Journals in a foreign currency

Ultimate Partner Mike_James
4,323 Posts
Ultimate Partner

Hi @nicolea , did you have GL accounts in version 19 in foreign currencies, which have now been converted to your home currency? Would these be for such things as inter-company accounts, foreign loans? What else?

 

The GL is now 100% home currency, and therefore you cannot keep a foreign currency GL balance except if it is part of receivables or payables. This function appears to have been deprecated, as a by-product of the design change. Any users affected by this change should add their comments. 

nicolea
3 Posts
User

HI @Mike_James - perhaps i should have provided more information with my post. Regarding the GL entry, I used to be able to post income accruals for example

Dr A/R Accrual - JPY

Cr Revenue

by changing the currency on that entry. We would then enter the JPY to AUD exchange rate in 19.14 and it would autopost the FX entries to the A/R JPY Exchange account (and revenue) to bring the ledger entries back to "home" currency. 

Unless I am mistaken I now need to do the conversion outside of MYOB for these accrual entries and post them in soley in AUD. Is this right?

 

 

Ultimate Partner Mike_James
4,323 Posts
Ultimate Partner

Hi @nicolea , yes I believe that is correct, under the current design you cannot store the JPY value of the accruals in the GL now. Thanks for advising your business use.

 

Contributing User Samex
7 Posts
Contributing User

All Reports for Customers with foreign currency - especially

Sales Statements

Sales Report Customer Payments

Sales Report Customer Ledger

 

Issuing reports in AUD (company base currency) is meaningless for overseas customers paying in foreign currency

Experienced Cover User RobertV
19 Posts
Experienced Cover User

@Samex the solution are fine for companies selling in multi currencies, but the above certainly does not help importers that purchase in multi currencies