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Aged Receivables (Summary) does not convert US Sales to AUD

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ncase
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Aged Receivables (Summary) does not convert US Sales to AUD

I'm using Account Right Premier with foreign exchange add-ons. I have USD client all set up in USD. I have created an invoice and sale in USD but on the Aged Receivables (Summary) does not convert to AUD which is what that whole report is. This means it's not showing a true reflection of total sales outstanding. There is also no drop down to show AUD or USD or any other foreign currency sales??

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Mike_James
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Re: Aged Receivables (Summary) does not convert US Sales to AUD

Hi @ncase , the Receivable/Payable Reconciliation reports have the option to display in either local or originating currency, and select one or more currencies to report. These reports treat the report date as a true cut-off, and (when reporting in local currency) will include the general ledger account balance, and display any out of balance amount.  


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)

ncase
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Re: Aged Receivables (Summary) does not convert US Sales to AUD

Hi Mike,

No where on the Aged Receivables (Summary) report does it give the option to show in either local or originating currency.

Can you please write a click by click line of how this occurs as not in the filters, Print Preview or Insert/Modify nor any drop down boxes do i have this option.

 

Also on foreign currency, MYOB does not allow you to see any other currency but your local currency in the Bank Register. This is crazy. I have a USD bank account set up which is still a bank account where we want to see trasnsaction history, but MYOB does not give this option.

 

Thanks

Nathan

Mike_James
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Re: Aged Receivables (Summary) does not convert US Sales to AUD

Re Receeivables, please re-read my post, especially line 1.

 

Agreed, the bank register only displays values in local currency. Not a solution, but the bank reconciliation screen shows values in originating currency. The list of what can and can't be done in AccountRight with foreign currency glosses over this omission: (here)


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)

ncase
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Re: Aged Receivables (Summary) does not convert US Sales to AUD

Hi Mike,

 

i read your line 1 initally which was why i followed up with my question.

No where do you say how you can change foreign currency to show in local currency for the aged receivables (summary) which was my question.....

There is no box i can see to tick or change to covert the USD sale to local currency.

 

Thanks

Nathan

Mike_James
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Re: Aged Receivables (Summary) does not convert US Sales to AUD

Hi @ncase , I recommend the Receivables/Payables RECONCILIATION reports, just below the AGED reports. Have a look through the toolbar options for the reconciliation reports. 


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)

Mike_James
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Re: Aged Receivables (Summary) does not convert US Sales to AUD

Also to comment further on the bank register, also not a complete answer, the account display under Find Transactions (by account), select your foreign bank account, this includes the local/originating values, but no opening or running balance. The list can be copied and pasted to Excel by right-clicking and select "Copy list to clipboard".


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)

ncase
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Re: Aged Receivables (Summary) does not convert US Sales to AUD

Thanks Mike for your replies,

it is quite baffling that such simple tasks are not able to be done in MYOB. i always thought this was a premier system. The reconciliation report basically shows the same as the aged debtors and foreign currency not being able to have a running balance in the Bank Account the same as the local currency is bewildering. Surely these are pivotal requirements in running foreign currency bank accounts.

anyway.....thanks.

 

Mike_James
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Re: Aged Receivables (Summary) does not convert US Sales to AUD

Hi @ncase , about as many people rely totally on the Aged reports as are confused by them (that is, they ask why the report contains invoices that are dated after the report date they put in). The fact that the reconciliation reports exclude post-dated transactions means that the report can be back-dated (to agree to a prior balance date) or forward dated (eg to the EOM), when as you say, it gives pretty much the same info as the Aged reports. I recommend all my clients to forget the Aged reports.


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)

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