Multicurrency functionality in AccountRight 2019.2, what you can and can't do

MYOB Moderator Neil_M
11,774 Posts
MYOB Moderator
MYOB Moderator

11,774Posts

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Multicurrency functionality in AccountRight 2019.2, what you can and can't do

Hi Everyone

 

With the upcoming release of AccountRight 2019.3, we thought we would take a moment to clarify what can and can’t be done using multicurrency in AccountRight 2019.2. These features can be done in any file with multicurrency enabled, and not just the Clearwater sample file

 

What you can do in an AccountRight 201X multicurrency file

  • Create item and service layout foreign purchases and sales, for quotes, orders, and invoices/bills.
  • Print and email foreign sales orders, purchase orders and remittance advices.
  • Full inventory tracking, including receipting of stock off an order (Receive Items).
  • Import purchases, spend money and receive money transactions
  • Set default currencies on supplier cards.
  • Set global exchange rates from the currency list.
  • Set custom exchange rates for a specific transaction.
  • Use live exchange rates (2019.2 and later online files only)
  • Create and reconcile foreign currency bank and credit card accounts.
  • Create spend money and receive money transactions using foreign bank accounts.
  • Track realised gains/losses on payments.
  • Create foreign transactions with a tax/GST rate that is higher than 0% (2019.2 and later)
  • Upgrade from AccountRight Classic (v19). Show me how to upgrade my v19 multicurrency file.

 

What you can’t do in an AccountRight 201X multicurrency file

 

  • Use professional or miscellaneous layouts.
  • Create or use recurring transaction templates for foreign transactions
  • Report on outstanding foreign currency balances (unrealised gains/losses)
  • Set a local currency other than AUD or NZD
  • Export foreign transactions to Excel/CSV
  • Link foreign customer cards to jobs, or use job reimbursable.
  • Import foreign sales from CSV/TXT files

 

Multicurrency features coming in AccountRight 2019.3

  • Email/print customer statements in foreign currencies
  • Item prices - base selling price and standard cost are treated as local prices in multicurrency transactions
  • Use multi-currency endpoints from the AccountRight API to create multi-currency transactions

 

Check out our Working with multiple currencies help article for more information on how to use multicurrency in your AccountRight 201X file

Regards,
Neil

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