AccountRight Premier 2018.4 and later
We've put together all you need to know about upgrading your multi-currency company file from AccountRight v19 (or earlier) to the new AccountRight.
If you're after information about upgrading an AccountRight Premier company file which doesn't use multi-currency, see Upgrade to the new AccountRight.
Some files can't be upgraded
If your company file has any of the following transactions, it can't be upgraded (yet):
- Foreign transactions using the Professional, Time Billing or Miscellaneous layouts (only Item and Service layouts are currently supported).
- Foreign currency accounts other than trade creditors, trade debtors, bank and credit card accounts
- Foreign transactions with consolidated tax codes
- Foreign transactions with the Luxury Car Tax code
If you haven't used multi-currency for a while but you have transactions like these from previous financial years, complete the pre-upgrade tasks below. This might remove those transactions to allow the upgrade.
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Can't upgrade? We'll work with you to get the file upgraded. Call us on 1300 555 123 (Australia) or 0508 328 283 (New Zealand).
Learn about the new AccountRight
Before you upgrade, learn about the new features in the latest version.
Upgrading is generally pretty easy. Just make sure you're using the latest AccountRight version, find your company file and start the upgrade—we'll do the rest.
Here's a quick overview:
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|title||1. Download and install AccountRight|
- Download the latest version (AccountRight subscription required). If you don't have an AccountRight subscription for an online company file, visit our MYOB website (Australia | New Zealand) to purchase one.
Click the installer file you've saved to your computer to install the new AccountRight version.
|title||2. Complete pre-upgrade tasks|
There's a couple of things you should do to prepare your company file for the upgrade. Purging, optimising and verifying your company file reduces the file size and ensures the upgrade is as smooth as possible.
|title||1. Purge historical transactions|
Transactions from previous financial years take up a lot of space in your company file, so purging (permanently removing them) frees up some space. To ensure you still have access to these transactions, it's important to create a backup of your company file before you purge. Then, if needed, you can always restore the backup to view or report on the purged transactions. To learn more about backing up, see the Classic AccountRight help (Australia | New Zealand).
The quickest and easiest way to purge old transactions is using the Start a New Financial Year process. Don't worry, the current financial year won't be closed, it's just a way of purging different types of transactions in one go.
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Want to purge transaction types one at a time?
If you're unsure about using the Start a New Financial Year process to purge transactions all at once, you can purge different transaction types one at a time. From within each command centre in your software, go to the File menu and choose Purge. For example, from the Sales command centre you can choose to Purge Closed Invoices. For sales and purchases you can also choose to purge just the detail only, or the entire invoice or bill. So it's important to read the information carefully on each window as you complete the process. You should also create a backup prior to purging anything, so you'll always be able to access the purged information by restoring the backup.
To purge transactions
- Go to the File menu and choose Start a New Year then choose Start a New Financial Year.
- Click Back Up.
- Choose Back up all data then click Continue.
- Specify where you want to save the backup. If you like, you can rename the backup file to help identify it later.
- Click Save. The backup is created and the Start a New Financial Year window reappears.
- Click Continue.
- Read the info displayed then click Continue.
- In the New Financial Year field, enter the current financial year, i.e. the same year as shown in the field above it.
- Click Continue.
- On the Receipts and Payments To Be Processed window, leave all items ticked and click Continue.
- On the Audit Trail Entries window select the option Purge Audit Trail Entries and click Continue.
- On the Closed Transactions window, deselect both options then click Continue.
- Leave the Unreconciled Transactions window unchanged and click Continue.
- Click Start a New Financial Year. If a confirmation message appears, click Yes. Transactions from previous financial years will be purged. Depending on the number of transactions, this may take some time. Despite appearances the process will eventually complete. If the process is interrupted before completion it will most likely damage your company file (which we can fix) - so it's best to be patient.
For more information on the Start a New Financial Year process, see the AccountRight help (Australia | New Zealand).
|title||2. Optimise and verify the company file|
Now that you've removed old transactions from your company file, it has probably left some "gaps" in the database. Optimising your company file removes these gaps to ensure your company file is as compact and efficient as possible. Then, to double-check that all is well, it's a good idea to verify the file for any issues that could affect your upgrade to the new AccountRight.
To optimise the company file
- Go to the File menu and choose Optimise Company File.
- Click OK to the information window.
- If prompted about retaining a previous optimisation recovery file, and providing you have created a back up earlier in this support note, click No. The company file will be optimised.
- Click OK to the completion message.
To verify the company file
- Go to the File menu and choose Verify Company File.
- Click OK to the information window. The company file will be verified.
- If no errors were found, click OK to end the verification process.
- If your company file is corrupted, you can:
- Attempt to repair the company file by optimising it and repeat this procedure to check if the errors have been fixed.
- Restore the company file from your most recent backup.
- Get help from our Data File Repair Team (Australia | New Zealand).
That's it! Your company file is now ready to be upgraded.
|title||3. Check custom currencies|
In AccountRight v19, a currency code could be any 3-letter code. For example, United States Dollars might be USA.
Before you can upgrade your company file to the new AccountRight, the currency codes in your company file must match the International Standard, eg. United States Dollars = USD and Great British Pounds = GBP.
See Editing currency codes before upgrading to the new AccountRight for more information.
|title||3. Upgrade your company file|
MYOB can take the hassle out of upgrading. By upgrading online, we'll do all the hard work and let you know when it's done.
Upgrades usually take a couple of hours (depending on your company file size), and you can't make changes to your file during this time, so you should do it outside of business hours.
- Start AccountRight (look for the new AR shortcut icon on your desktop or in the Start menu). The Welcome window appears.
- Click Upgrade a company file. The Upgrade Assistant appears.
- Click Continue.
Click Browse andselect the file you want to upgrade.
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Where's my file?
Try looking in your AccountRight v19 installation folder, like C:\Premier19 or C:\PremierClassic. Look for a file with a .myo or .prm extension (like MyCompanyFile.myo). If you can only find a .MYOX file, it means it's already upgraded. Learn how to open a company file .
Still having trouble? Get help finding your company file .
- If the file you're upgrading is password-protected, type in the password and click Continue.
- Sign in to AccountRight with your MYOB account details and then click Upload.
- Once your file has uploaded, you can close AccountRight while we do the rest. We'll email you when the upgrade's complete, or if we come across any issues along the way.
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For information on how to open your company file in the new AccountRight, see Open a company file.
|title||4. Complete post-upgrade tasks|
After your company file has been upgraded, there may be a few more things you need to do. Don’t stress though, you only need to do them once.
|title||Combine supplier cards|
If you deal with a supplier in more than one foreign currency, you would have created separate supplier cards for them. You now only need a single card for each supplier, so you can combine these cards.
|title||Turn on Live Exchange Rates (optional)|
Live exchange rates only works with online files and will update every 5 minutes and are provided by Open Exchange Rates. Turning on live exchange rates will replace any exchange rates you've already set in the Currency List.
- Go to the Setup menu and choose Preferences. The Preferences window appears.
- Select Turn on Live Exchange Rates [System-wide].
- Click Got it to the confirmation message.
|title||Set supplier credit limits|
The credit limits in your supplier cards won't be upgraded. So after combining your supplier cards, you can set the credit limit for the supplier (the credit limit is in your local currency). Just go to Card File > Cards List > Supplier tab > open the supplier's card > Buying Details tab.