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Currency Information window - Purchase Ledger Accounts view

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Liability Account for Tracking Creditors in this Currency

Enter a liability account that will be used to track the money you owe people for purchases made in this currency. This required account typically is an account named Trade Creditors or something similar. In MYOB Accounting Plus documentation, this account is referred to as your linked creditors account for the selected currency.

Bank Account for Paying Bills in this Currency

Enter an account that will be used to track the money you've paid to people for purchases made in this currency, and into which you deposit refund cheques from suppliers that are in this currency. This required account is usually named "Bank Account" or something similar. In MYOB Accounting Plus documentation, this account is referred to as your creditors bank account for the selected currency.

I Pay Carriage on Purchases in this Currency

Mark this option if suppliers who use the selected currency deliver physical items to your company and charge you a separate amount for delivery.

Expense or Cost of Sales Account for Carriage

Enter the account that will be used to track the money you spend for the transport of items you purchase. (The type of account you select in this field depends upon what purpose you consider carriage charges serve in your business. If you think carriage charges increase the cost of making a sale, enter a cost of sales account here. If you think carriage charges are necessary expenses, enter an expense account here.) In MYOB Accounting Plus documentation, this account is referred to as your carriage paid for the selected currency.

This field appears only if you marked the I Pay Carriage on Purchases in this Currency option.

I Track Deposits Paid to Suppliers in this Currency

Mark this option if you make deposits in the selected currency when you place purchase orders with your suppliers who use this currency.

Asset Account for Deposits

Enter the account that will be used to track deposits you make in this currency on purchase orders. In MYOB Accounting Plus documentation, this account is referred to as your linked supplier deposits account for the selected currency.

This field appears only if you marked the I Track Deposits Paid to Suppliers in this Currency option.

I Take Discounts for Early Payments in this Currency

Mark this option if your suppliers allow you to take discounts for early payments on purchases made in the selected currency.

Expense or (Contra) Account for Discounts

Enter the account that will be used to track discount amounts that you've received from suppliers for paying your bills early. (The type of account you select in this field depends upon the purpose you consider discounts serve in your business. If you think discounts decrease the cost of making a sale, enter a cost of sales account here. If you think discounts decrease your expenses, enter an expense account here.) In MYOB Accounting Plus documentation, this account is referred to as your linked supplier discounts account for the selected currency.

I Pay Charges for Late Payments in this Currency

Mark this option if you must pay a fee when payments in the selected currency are made later than your supplier's credit terms allow.

Expense Account for Late Charges

Enter the account that will be used to track finance charge amounts paid to suppliers who haven't received your bill payments on time. In MYOB Accounting Plus documentation, this account is referred to as your linked supplier late charges account for the selected currency.

New button

Click this button to open a new Currency Information window and set up new currency records

OK button

Click this button to accept the entries you've made in this window.