Banking

Spending money (Spend Money window)

Use the Spend Money window to select the checking account from which you want money to be drawn.You have the option to print checks for vendors and employees or to pay them by direct crediting from your bank.

Electronic payments

Note:  You must subscribe to MYOB Vendor Payments to make electronic Vendor payments directly from AccountEdge

In MYOB AccountEdge, directly crediting your bank is accomplished by creating an electronic payment. Select the Group with Electronic Payments button to pay a transaction electronically.

A Spend Money transaction you record in this manner will appear in the Prepare Electronic Payments window and remain there until you're ready to create the file that will be sent to your bank for processing. When you group a Spend Money transaction with other electronic payments, an individual cash-disbursement transaction is recorded in the linked electronic payments account -- it is not posted directly to your checking or credit card accounts. (Creating electronic payments transactions)

Pay From Account list in the Spend Money window

If you choose not to pay electronically, use the Pay From Account button. The Pay From Account list in the upper left corner of the Spend Money window displays only accounts you've specifically designated as Detail Checking or Detail Credit Card accounts. If you want a particular account to appear in this list, you must create the account first.

Remember that these accounts can be used for any cash disbursement method. Credit cards, petty cash, money market accounts and other methods for making payments may be displayed in this list.

When you record a Spend Money transaction directly into an account, an individual cash-disbursement transaction is recorded in the account for the transaction.

Accounts are listed by account number, starting with the lowest number. If you wish to have the account you use the most appear automatically in the window when you open the Spend Money window, be sure that account number is lower than any other checking or credit card account.

Accounts with foreign currency

If you want to use a checking or credit card account that has been assigned a foreign currency, first choose the currency associated with the account. Click the Currency button to display the Exchange Rate window. Click the arrow next to the Currency field and choose the currency associated with the account you want from the list of currencies that appears. Click OK to close the Exchange Rate window. All the checking and credit card accounts that use the selected currency will appear in the account list, along with your home currency accounts.

Note:  Entering transactions in the 13th period

You can also use the Bank Register window to create Spend Money transactions.

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