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Kristyh1's avatar
Kristyh1
Trusted User
2 years ago
Solved

Foreign Currency

Hi I am trying to transfer money from a USD account to our AUD account

 

I have followed the below instruction entered the rate.

 

The deposit into AUD is correct but the withdrawal on the USD account is showing as a withdrawal fore the same amount of money instead of the USD amount - how can I fix this? 

 

https://help.myob.com/wiki/display/ar/Working+with+multiple+currencies?searchfacet=support:help&searchterm=foreign%20currency&_ga=2.58900653.1821940301.1664853338-1688029071.1652765867&_gac=1.142413318.1664342815.EAIaIQobChMIlfrzj-C2-gIVnpJmAh1Zvw-ZEAAYASAAEgJ93vD_BwE#expand-WhatcanandcantbedonewithmulticurrencyinAccountRight 

  • Kristyh1's avatar
    Kristyh1
    2 years ago

    Hi Mike

     

    I have tried both ways spend money from th USD and also a receive money to the AUD and th USD amount is showing correctly on the spend money.

     

    I have checked and realised what the issue is the US currency account is set up incorrectly - the currency is listed as AUD instead of USD..

     

    Thanks 

     

     

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  • Mike_James's avatar
    Mike_James
    Ultimate Partner
    2 years ago

    Hi Kristyh1 , I suggest you use a Spend Money transaction, select the USD bank account, enter the rate that will give you the exact AUD amount, and allocate the USD amount to the AUD bank account. You might get the odd 1 cent difference on the AUD bank, just enter a 1 cent amount via Receive or Spend Money to adjust for that.

    • Kristyh1's avatar
      Kristyh1
      Trusted User
      2 years ago

      Hi Mike

       

      I have tried both ways spend money from th USD and also a receive money to the AUD and th USD amount is showing correctly on the spend money.

       

      I have checked and realised what the issue is the US currency account is set up incorrectly - the currency is listed as AUD instead of USD..

       

      Thanks