Setup

Working with multiple currencies



This topic applies to you only if you're using MYOB Accounting Plus.

MYOB Accounting, allows you to enter transactions in a number of currencies in addition to your local currency. The Accounting multicurrency features make it easy to record transactions in dollars, pounds, yen or any other currency you use when buying and selling goods and services. Accounting also makes it easy to track overseas bank accounts and foreign assets and liabilities.

If you deal in multiple currencies, it's also important to track the effects of currency exchange rates on your business. Accounting provides detailed reports to help you manage both unrealised gains and losses (potential changes in the value of overseas transactions) and realised gains and losses (the actual changes in the value of your assets, liabilities and capital that occur when you exchange foreign currency for your local currency).