Update to Item Price from a foreign currency denominated Bill does not recognize the foreign currency

Legacy KB ID: 3756

Question

When I choose to update the Item Purchase Price from a foreign currency denominated Bill, why does Reckon Accounts record the foreign currency amount as the new Item Cost and not the Australian Dollar amount?

Answer

This problem affects only the Cost field in Edit Item.  Avg Cost will calculate correctly.  All Reports will use the correct figure.

Solution

Say NO to “Do you want to update the item with the new cost?”.

If you wish the Cost field to reflect the latest price you will need to adjust it manually in the Item Record.

Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonaccounts

Or

Log a Support Ticket: https://www.reckon.com/au/support/