Multi-Currency: Sales exchange rate decimal place increase (5)
Dear MYOB I work in both Japanese Yen and US dollars accounts and would like to report an issue with the number of available decimal pleaces that MYOB uses for currency exchange. While the USD conversions work well given the relative similarity in figures for USD to AUD, this is not the same for JPY to AUD. For example, please see as follow:- I have a Japanese Yen amount of JPY2,867,542. To show this as the amount I received in my AUD account of $35,310.21, this needs an exchange rate of .012313754463736. If I use this exchange rate, MYOB rounds this exchange rate to 0.12314. That being the case, this recognises the money in as $35,310.91 needing a manual adjustment of 70 cents for this transaction. This is time consuming and an issue that I believe would be better addressed by MYOB is enabling a greater range of decimal places. "Currency Decimal Place Limitation"
Multi-Currency: Customer deposit payments exchange residual value
I am new to using multi currency, however I do understand the logic behind it. When it is a simple case of recording a sale (at a given exchange rate) and then receiving the funds (at a different exchange rate), the difference will be recognised asfx gain/loss. I believe MYOB handles this easily. However when I make use of the Sales Order/Customer deposits facility, it does not work so easily (I am happy to be corrected, but I spoke to support today and they agreed with me and suggested I post details of it here, so this is exactly what I am doing). I have attached screen prints of my example. The chain of events is as follows: 1) Sales Order raised - EUR1000 (AUD 1,200 equivalent) 2) Customer deposit received for full amount - EUR1000 (AUD1,300 equivalent) 3) Sales Order coverted to Invoice Theoretically, after all these transactions, theBalance Sheet accounts (Trade Debtors/Trade Debtors Exchange Account + Customer Deposits/Customer Deposits Exchange Account) should all be nil - i.e. invoice raised and paid in full, so nothing should be left on the balance sheet. But there is - $100DR in Trade Debtors Exchange Account and $100CR in Customer Deposits Exchange Account - these amounts need to offset each other (by a manual general journal). Refer attached screen prints. So I then thought ifmanually cleared the $100 gain at the customer receipt stage (because MYOB will allow you to changethe gain or loss to whatever you want it to be - sounds dangerous), then maybe I would solve my issue. However, I end up with $100CR in Customer Deposits Exchange Account and missing $100CR in FX gain. Again a GJ required to clear the imbalance. Refer attached screen prints. Do you agree there is an issue here? If no, please advise what I am missing. If you do see an issue, will this be fixed? Again, I am very happy to be corrected if I have misunderstood the process. "Multicurrency - Is this a bug?"Inventory: More Price Levels
We have been using Premier for many years beccause of the Mutlicurrency and Inventory/Autobuild features which are very important for a manufacturer. We are using Premier v12. More Price Levels are needed. 6 (A to F) are not enough when you have multiple currencies. There is no support for Price levels in different currencies, so we use separate Price levels for each currency. This is the most important shoretcoming "More Price Levels"