Making a deposit using MYOB AccountEdge

In MYOB AccountEdge, a deposit is a payment made on an order. You can make a deposit using a sales order or a purchase order. (To enter a deposit or prepayment)

Sales

When you make a payment on an order, the amount is allocated to the linked Liability Account for Customer Deposits. (Sales Linked Accounts)

When you convert the order to an invoice, the deposit amount is transferred from the linked customer deposits account to the Accounts Receivable account.

Purchases

When you make a payment on an order, the amount is allocated to the linked Asset Account for Vendor Deposits account. (Purchases Linked Accounts)

When you convert the order to a bill, the deposit amount is transferred from the linked vendor deposits account to the Accounts Payable account.