Purchases

Entering additional information about a purchase

MYOB Premier Accounting provides the option to add useful information about your purchase, such as a journal entry memo or a shipping method. If you like, you can use the vendor's card to set default entries for several fields in the Purchases window. (Buying Details view - Card Information window)

The tax code that is selected for the vendor using the Buying Details view of the Card Information window is entered automatically when you enter the vendor card in the Purchases window. You can change this code if you wish. Using the Buying Details view of the Item Information window, you can automatically designate any item in the Items List as taxable when you enter that item on a purchase. Simply mark "I Pay Sales Tax When I Buy This Item."

All parts of the purchase (line items and freight charges) that you've marked as taxable will be taxed, based on the tax rate for the assigned sales tax codes. If, after you've entered all your line items and freight charges, the sales tax amount that appears in the Tax field differs from the amount in the vendor's bill, you may want to manually adjust the amount. Click the arrow next to the Tax field to open the Tax Information window; you can adjust the amount in the Tax column.

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