Accounting system as Multi-Currency source

Created by Datapel Integration, Modified on Fri, 6 Jun at 4:22 PM by Datapel Integration

Description

This article explains the setup of the Accounting system as a multi-currency source.

Workflow Options

This article is applicable to Cloud.WMS systems connecting to MYOB Account Right Live
Currently supported default base currencies include AUD and NZD

To activate Accounting as a Currency source:

Datapel Support to action:

Add new tag <WMSAsCURSource>False<WMSAsCURSource> in Prefs.xml file.

Superuser to action:

Open WMS.
Go to Options > Preferences.
Replication Tab.
Locate Manage FX using and from the drop-down list select "Accounting Currency" and Record Preferences.

Exchange Rates management:

To adjust standard rates:

Adjust Rates in the Accounting system, and these rates are replicated to the WMS.

Creating multi-currency Sales Order:

Open WMS.
Go to Sales or Receive register.
Create New Sales or Purchase Order.
Open Currency Tab.
WMS will select customer/Supplier default Currency. From here, you can also manually adjust the spot rate.
Finalise order.

Note

Line Item Unit price should be treated as selected foreign currency.

7. Record as Sales or Purchase Order.

8. Process transactions as usual.

9. Order will be Invoiced/Billed over to the Accounting system.

10. Open Invoice/Bill in Accounting system.

The price, subtotal, tax, and balance due are ALL sent as Foreign Currency.

For example:

AUD = 1 NZD / Spot cross rate (0.952873) = 1.04946 NZD

Total (AUD)$94.81= 99.50 NZD / 1.04946 NZD