Liability Account for Tracking Creditors |
The Liability Account for Tracking Creditors field of the Purchase Ledger Linked Accounts window allows you to enter a liability account that tracks the money you owe people for purchases. 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. |
Bank Account for Paying Bills |
The Bank Account for Paying Bills field of the Purchase Ledger Linked Accounts window allows you to enter an account that tracks the money you've paid to people for purchases, and into which you deposit refund cheques from suppliers. 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. |
I pay carriage on purchases -- Expense or Cost of Sales Account for Carriage |
If you mark I pay carriage on purchases, the Expense or Cost of Sales Account for Carriage field appears. This field allows you to enter an account that tracks 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 account. |
I track deposits paid to suppliers -- Asset Account for Supplier Deposits |
If you mark I track deposits paid to suppliers, the Asset Account for Supplier Deposits field appears. This field allows you to enter an account that tracks deposit amounts you pay for purchase orders. In MYOB Accounting Plus documentation, this account is referred to as your linked supplier deposits account. |
I take discounts for early payment -- Expense (or Contra) Account for Discounts |
If you mark I take discounts for early payment, the Expense (or Contra) Account for Discounts field appears. This field allows you to enter an account that tracks discount amounts that you've received from suppliers for paying your bills early. (The type of account you select in this field depends upon what 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. |
I pay charges for late payment -- Expense Account for Late Charges |
If you mark I pay charges for late payment, the Expense Account for Late Charges field appears. This field allows you to enter an account that tracks finance charge amounts that you've 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. |
Terms button |
Click this button to open the Credit Terms window, where you can create a set of default credit terms for all suppliers in the Accounting Plus system. When you create a set of default terms using the Credit Terms window here, the terms you select will be automatically applied to every new supplier record you add to the Card File. (The terms of existing suppliers will remain the same.) If you wish, you can change the terms assigned to an individual supplier in the Buying Details view of the Card Information window You also can use this window to specify the VAT code that applies most often to your suppliers; this VAT code will appear as the default entry for all new supplier records you add to the Card File. (As with terms, the VAT codes you've assigned to existing suppliers will remain the same.) If you wish, you can change the VAT code assigned to an individual supplier in the Buying Details view of the Card Information window. |
OK button |
Click this button to accept the entries you've made in this window. |