Account Hosted Multi Currency - Bank in foreign currency

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  • Updated 2 months ago
Hi,
We are using Reckon Hosted multi currency with USD as our base currency. However, we only have AUD bank account. 

We could issue invoices both in AUD and USD with its respective A/R in AUD and A/R in USD. However when we receive the payment from overseas in our AUD bank account, I still can do "Receive Payment" for the USD invoice, however I can't record the deposit into my AUD bank account. 

It would be great if you could advise. 

Cheers,
Lusia 
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Lusia

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Posted 2 months ago

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Hi Lusia

 

What country are you actually based in?  That should be your chosen “Base” Currency.

 

Unfortunately this cannot be changed once set so if you’ve only just started using the program, I’d suggest creating a new Company File & starting again with the correct home currency.

 

 

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com


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Lusia

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Hi Shaz, 

Thank you for your reply. I know it's a bit confusing. Our organisation is Australia based but we have nominated USD as our functional/based currency. However, our bank account is in Australian currency. 

Kind Regards,
Lusia