MYOB - How to Enter Creditor Purchases

In the Command Center click on Purchases and then Enter Purchase. A Purchase - New Service format window will appear. The format New Service is used when you are not maintaining inventory. It is used to enter service purchases such as legal fees, electricity, rates, telephone, etc. accounts that fall in one month but are payable in another. This window can also be used for businesses that purchase inventory but do not stock it as it is typically for a specific job and is used immediately.

Enter the Suppliers details and hit tab or enter. Enter the Purchase Number if you have allocated one, the Date and the Suppliers Invoice Number. Type in a Description of the purchase and the Account Code that relates to the purchase. This would normally be either an Expense Code or a Cost of Sale Code. Enter the Amount and Record the transaction.

If entering Inventory that goes into stock, you need to change the Layout of the Purchase Window to the Item Layout window. At the bottom of the window click on Layout. Here you select the Item Layout. As above, enter the Suppliers details, the Purchase Number, Date and Suppliers Invoice Number. Under the Bill column, enter the quantity of the Item you received. MYOB automatically acknowledges the Received amount. Enter the Item Number from your Items List or add a new item as shown in How to Enter Inventory from a previous module. Enter the Price per unit unit, check your Totals and Record the transaction.

If you ordered a larger amount and only received part of your order, you would place the amount still to come in the Backorder column. This stays in the system as an Order until you receive the balance of your Items and acknowledge it as a Bill. At a later date, when you enter the Supplier in the Purchases window, MYOB automatically brings up the Order so that you can complete the Billing transaction which also adjusts the Inventory quantity. MYOB will only acknowledge the liability to that Supplier for the amount of Inventory received and not Ordered.

There are two other Purchase Layouts. The Professional Layout is very similar to the Service Layout and is used when buying services from your Suppliers. This could once again be Services provided by an Accountant or Lawyer in which they Bill you at the end of a month for several services provided during the month and have recorded them on a daily basis.

The Miscellaneous Layout is used to record transactions that do not need to be printed and could be used to make adjustments. For example, you may have entered a purchase with the wrong dollar value and find out at a later date you need to credit the balance outstanding. The Supplier does not need a copy of the transaction as it was an internal error. You would enter a Credit to that Supplier and settle it against the outstanding amount.