Bring back multi currency reporting that you had in V2019.19

Contributing User alane
5 Posts
Contributing User
Contributing User

5Posts

8Kudos

0Solutions

Bring back multi currency reporting that you had in V2019.19

We have recently converted from Account Right 2019.19 to 2019.2 due to the new payroll reporting required.

We are very disappointed in the fundamental things that the previous version did that have not been included in v2019.2. We've only used it for a week and these are the serious issues for our business we are already having.

 

You cannot create a recurring transaction for a foreign currency. For a high volume business who uses different sales templates for different customers we are now resorted to retyping every invoice. This is a backward step.

 

You cannot run an aged receivables report in a foreign currency - it is converted to AUD . Surely a customer should be able to see what they owe in their own currency. How do we chase up an invoice they received as 100 EURO if it now says the amount is 161.86 AUD? This is a backward step.

 

You cannot report a bank rec in the source currency. All foreign currency accounts are converted to AUD. This needs to be fixed. A bank rec for a foreign currency should be reported in that currency.

 

 A customer sales report for an overseas customer is converted to AUD. If we have say a US customer who we invoice in USD and who pays USD into our US bank account, we should be able to report that customers transactions in USD as the previous versions of MYOB always did - or at least have the option to report in foreign currency for those who do. 

 

We havent run all the reports to see if every single report converts all foreign currency to AUD but I would guess it does. You should have the option to report in source currency and not just convert everything to AUD. It feels like the new version of Account Right has lost lots of the important features for a business which is run globlly. I rang the help desk who told me that there is nothing that they can do. Shop for a new program perhaps? 

 

7 REPLIES 7
MYOB Moderator Steven_M
32,267 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,267Posts

4,284Kudos

0Solutions

Re: Bring back multi currency reporting that you had in V2019.19

Hi @alane 

 

The multi-currency feature in AccountRight 2019 is a work in progress with additional features included with each update. Help Article: How is multi-currency different from AccountRight v19? does list the changes between the versions. It will also include what can and can't be done with multi-currency in AccountRight 2019

 

In terms of what is in the immediate future for foreign currency, we are looking on customer statements, API endpoints and item pricing. Additional features may be added to but are been placed into development at this time. 

AccountRight 2019.2 currently allows for the Receivable (and Payable) Reconciliation Summary report to be displayed in originating currency. Other reports in AccountRight 20xx range may receive the option to display in the originating currency with future updates but this has not been included in the AccountRight 2019.2 version.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Contributing User alane
5 Posts
Contributing User
Contributing User

5Posts

8Kudos

0Solutions

Re: Bring back multi currency reporting that you had in V2019.19

Hi Steven

 

I have looked at the "Help Article" How multi currency is different etc. It is not much help at all as it justs lists things that can and cannot be done. By the way there is an error in that list as it says you can reconcile foreign currency accounts. This is only partly true as although the account can be reconciled you cannot report it in the original currency.

 

I am not sure what you are looking at as the version of Account right 2019.2 I have does NOT allow you to view transactions on the Receivable Reconciliation Summary in their originating currency. Although there is a drop down to select a currency, no matter what currency is selected the amount is converted to AUD. This is a flaw.

 

You have not mentioned setting up recurring transactions for foreign currency. Are you in a roundabout way saying that this feature no longer exists going forward?

MYOB Moderator Steven_M
32,267 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,267Posts

4,284Kudos

0Solutions

Re: Bring back multi currency reporting that you had in V2019.19

Hi @alane 


When running the Receivable Reconciliation [Summary] report you will have the filter option: Display Ageing in Originating Currency. When that option is enabled it displays the transactions in a foreign currency

Attachment.PNG

 

Foreign currency recurring transactions are not included in the AccountRight 2019.2 version. At this stage, we don't have it a timeframe for when that will be a feature of the AccountRight 2019 range, with the focus for multi-currency for the next update being statements, API endpoints and item prices at this stage.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Contributing User alane
5 Posts
Contributing User
Contributing User

5Posts

8Kudos

0Solutions

Re: Bring back multi currency reporting that you had in V2019.19

Hi Steven

 

Thank you for showing me this screen shot, I must admit that even though I wrote Summary I meant the Detail report - which doesnt have any of these options to report in source currency

 

If this Summary report allows you to view in orignal currency why do no other reports allow such important functionality? If you can do it here why not elsewhere?

MYOB Moderator Steven_M
32,267 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,267Posts

4,284Kudos

0Solutions

Re: Bring back multi currency reporting that you had in V2019.19

Hi @alane 


At this stage, only that Receivable Reconciliation [Summary] report will have that originated currency option. Additional reports may have that feature in future updates, however, this has not been something included in the AccountRight 2019.2 version.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Contributing User alane
5 Posts
Contributing User
Contributing User

5Posts

8Kudos

0Solutions

Re: Bring back multi currency reporting that you had in V2019.19

Hello Steven

 

So can you tell me how I send an overseas customer a listing of what they owe in their own currency so they know what is outstanding?

 

Louise

MYOB Moderator Steven_M
32,267 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,267Posts

4,284Kudos

0Solutions

Re: Bring back multi currency reporting that you had in V2019.19

Hi @alane 

 

Foreign Customer statements are not something that has been included in the AccountRight 2019.2(.1) release.  It is something that we are looking at adding in the next update, AccountRight 2019.3, which is currently still be developed with an estimated release later this quarter (Q3, 2019).

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Didn't find your answer here?
Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post