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MYOB Premier currency issue

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tstramotas
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MYOB Premier currency issue

Hi

 

I am an Australian accountant whom acts for an Australian company on MYOB Premier Aust Version. 

 

During the break I subscribed and set up the NZ entity

We had many issues in setting up and spent many hours on the NZ which ultimately required an upgrade of the NZ file to Premier.

It emerges however that the NZ MYOB Premier software can only record a sale in NZ dollars; it cannot handle a sale in foreign currency.

In comparison the Aust MYOB Premier can handle sales and purchases in any currency.

What is frustrating is that the NZ MYOB Premier Clearwater file can handle sales and purchases in any currency to which we were advised is a beta file.

I was advised by MYOB NZ to expect the feature towards the middle of the year.

Needless to say I am embarrassed and have an unhappy client.

 

I should not be getting charged for NZ MYOB Premier when it is not fully developed.

What I am after however is guidance on when the NZ software will be functioning in the same manner as Australia.

 

Terry

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Ultimate Partner Mike_James
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Re: MYOB Premier currency issue

Hi @tstramotas, I would be very surprised if the Australian version of AccountRight can handle foreign currency sales transactions. 

 

As of version 2018.4 MYOB's help notes suggest that foreign-currency sales are yet to be released. See http://help.myob.com/wiki/display/ar/Upgrading+a+multi-currency+company+file.

 

The in-product help notes from the Australian 2018.4.1 Clearwater file on multi-currency (here) say the same.


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)
New: S.T.P. Reporting solution for (Aust) v19 users, email for details

Ultimate Partner Mike_James
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Re: MYOB Premier currency issue

Update: I have recorded a sale in NZD in the AUS Clearwater file, and it appears correctly in the sales register. But I also recorded a payment against that sale, and the accounting entries look odd - discount journals where no discounts given.


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)
New: S.T.P. Reporting solution for (Aust) v19 users, email for details

tstramotas
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tstramotas
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Re: MYOB Premier currency issue

Hi

 

Just to be clear the Australian version of MYOB Accountright Premier version can handle foreign currency sale and foreign currency purchases. I have a client that has been using this for years.

The NZ version of MYOB Accountright Premier version cannot handle foreign currency sales however it can handle foreign currency purchases. By way of example the NZ company sells in NZ$ as well as US$.

The NZ Clearwater file however has the ability to handle foreign currency sale and foreign currency purchases.

When I asked why this was teh case I was informed its a beta file.

Ultimate Partner Mike_James
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Re: MYOB Premier currency issue

@Steven_M can you confirm the current position?


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)
New: S.T.P. Reporting solution for (Aust) v19 users, email for details

Valued Cover User AndrewStephen
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AndrewStephen
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Re: MYOB Premier currency issue

@Mike_James I think @tstramotas is referring to v19 and not AR.

 

He is saying the v19 Clearwater file allows foreign currency sales but when he created a new v19 company file the option to allow foreign currency sales isn't there.

 

 

Ultimate Partner Mike_James
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Re: MYOB Premier currency issue

Hi @AndrewStephen, even with my brand-new glasses 😊, I don't see any reference to v19 in Terry's posts. He also refers to advice from MYOB that Clearwater (NZ) is a beta release of multi-currency, which would fit with AccountRight 2018.4.


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)
New: S.T.P. Reporting solution for (Aust) v19 users, email for details

MYOB Moderator Steven_M
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Steven_M
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Re: MYOB Premier currency issue

Hi @Mike_James

 

The framework for sale based multiple currency transactions are available in the Australia and New Zealand Clearwater Premier AccountRight 2018.4.1 copies of the company file. For example, you can create and record a sale for a foreign currency customer card in these copies of the file.

 

Although, as the feature is still in Beta for the sales side of things the functionality is limited and not fully available (i.e. not fully added to client files). Future updates of the AccountRight 20xx range will open that sales side up and other sections allowing for more capabilities with foreign currency transactions.

Kind regards,
Steven

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