Entering Pre-conversion purchases for USD Suppliers

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Experienced User Accounts5
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Entering Pre-conversion purchases for USD Suppliers

Hi,

 

We recently upgraded to MYOB AccountRight 2019.2.1

 

We had to open a new file so I have been trying to add pre-conversion USD purchases but when I do that I am not able to find the USD supplier on the supplier list to add the pre-conversion purchase.

 

Please help.

 

 

 

3 REPLIES 3
MYOB Moderator Steven_M
32,660 Posts
MYOB Moderator
New Zealand
MYOB Moderator

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Re: Entering Pre-conversion purchases for USD Suppliers

Hi @Accounts5 

 

Currently, pre-conversion transactions are only available for customers or suppliers where the default currency is listed as being NZD or AUD.

 

If you do need to enter a pre-conversion transaction for a foreign currency customer or supplier I would recommend working out the local currency value for that transaction and entering that as the transaction. Note: You will need to update the default currency for that customer or supplier card to be the local currency to record that transaction, it can be changed afterwards if needed.

Kind regards,
Steven

MYOB Community Support

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Experienced User Accounts5
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Experienced User
Experienced User

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Re: Entering Pre-conversion purchases for USD Suppliers

Hi Steven,

 

Thanks for your response. 

 

We have actually paid these pre-conversion USD Invoices post-conversion from our USD bank account. So if we add these pre-conversion purchases as AUD purchase how are we able to pay it from our USD bank account and reconcile our USD bank account.

 

MYOB Moderator Steven_M
32,660 Posts
MYOB Moderator
New Zealand
MYOB Moderator

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0Solutions

Re: Entering Pre-conversion purchases for USD Suppliers

Hi @Accounts5 

 

As those pre-conversion transactions are needing to be recorded in the local currency the payment of those transactions does also need to be paid in the local currency. If you have paid that transaction with from a foreign currency account then you would be looking at utilising the following approach:

 

  1. Go to Accounts>>Accounts Lists>>New and create a new bank account for that account (in the local currency).
  2. Record a Banking>>Spend Money transaction with the Pay from Account being that foreign currency bank account, the allocation account being that newly created account.
  3. Once completed, you would do a Purchases>>Pay Bills transaction with the Pay from Account being that newly created account.

Kind regards,
Steven

MYOB Community Support

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

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