Purchases

To pay a vendor (Pay Bills window)

The Pay Bills window should be displayed.

  1. Choose the account from which the bill will be paid. (If you're paying by a company credit card, choose the credit card liability account; if you're paying by a company debit card, choose the debit card checking account.)

    -- or --

    Mark the Group with Electronic Payments option if you will be making the payment electronically. (To pay vendors electronically)


    Note: If you receive the alert: "MYOB Direct Deposit and/or Vendor Payments is disabled"
  1. Enter the vendor's name. Default entries will appear in a number of fields; review these entries, particularly the date, and make any necessary changes.


  2. Enter the amount to be paid.


    If you're using multicurrency and the vendor has been assigned a foreign currency, the payment amount must be in that currency. You can review and update the exchange rate for this transaction by clicking the Exchange Rate button.
  1. Enter a short, descriptive comment in the Memo field if you like. This information will appear on a number of reports.


  2. Use the Amount Applied column to indicate which purchases are being paid. Depending on your choices in the Preferences window, the payment may be applied automatically for you. You can change these default entries if you like.


    If you've overpaid the vendor, simply enter the full amount in the Amount Applied column. A vendor debit will be created automatically when you record the payment. You can either apply the debit to a future purchase or record a refund check if one is sent to you. (Applying vendor debits and receiving refunds from vendors)
    If you're ready to pay all of the transactions in the list that have an Open status, click the Pay All button. The amounts required to do this will display automatically in the Amount Applied field and in the Amount field in the checking portion of the window.
  1. If the you're eligible for early payment discounts, they will appear in the Discount column. You can change these amounts if you like.


  2. If you owe a finance charge, enter that amount in the Finance Charge field.


  3. When the payment has been fully applied (the Out of Balance field is zero), you can either record the payment or print a check. To record the payment, click Record. To print a check, click Print; the payment will be recorded before the check is printed. (To print and record a check payment)


    If you've overpaid the vendor, a message will alert you that a debit memo will be created for the vendor. Click OK. (Click Cancel if you'd like to edit the payment amount.)

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