Purchases

Entering information about the vendor

Regardless of the type of purchase you're creating, you should pay special attention to the top section of the Purchases window. The information you enter here will determine several characteristics of the purchase, including the credit terms assigned to your company by the vendor and the identification numbers assigned to the transaction.

If you are conducting business with a new vendor who isn't yet in your Card File, you can add a new vendor record using the Easy-Add feature. Then you can quickly get back to the business of creating the purchase.

Credit terms

You can make any changes to the vendor's credit terms that affect only the transaction you're currently entering. The credit terms that appear automatically were set up using the Easy Setup Assistant (when you set up your company), the Credit Terms window (opened from the Preferences window), or the Vendor Terms Information section (on the Selling Details tab of the Card Information window).

Note:  Setting up discounts for vendors

Multicurrency

If you're using MYOB Premier Accounting's Multicurrency feature and you selected a vendor who's been assigned a foreign currency in the Card Information window, that currency is automatically assigned to the transaction, and it can't be changed. The exchange rate for the foreign currency, however, can be changed.

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