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Foreign Currency

Kristyh1
Trusted User
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Trusted User
Trusted User

79Posts

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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&sear... 

3 REPLIES 3
Mike_James
Ultimate Partner
5,336 Posts
Ultimate Partner
New Zealand
Ultimate Partner

5,336Posts

1,149Kudos

687Solutions

Re: Foreign Currency

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.


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)

Kristyh1
Trusted User
79 Posts
Trusted User
Trusted User

79Posts

13Kudos

2Solutions

Accepted Solution Solved

Re: Foreign Currency

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 

 

 

Mike_James
Ultimate Partner
5,336 Posts
Ultimate Partner
New Zealand
Ultimate Partner

5,336Posts

1,149Kudos

687Solutions

Re: Foreign Currency

Good solution!


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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