Customer trade-ins and special purchases by owners or employees

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Purchases made using owner's funds. Sometimes an owner makes a purchase on behalf of the company and uses personal funds to pay for it. You can use MYOB Premier Accounting to enter these special purchases in your records.

Purchases made by an employee. An employee may make a purchase on behalf of the company and use personal funds to pay for it. You can use MYOB Premier Accounting to enter these special purchases in your records.

Trade-ins. If your business accepts trade-ins, you can accurately record your trade-in sales using Premier Accounting. To do this, you'll need customer and vendor cards for each trade-in customer. You'll also have to create a special inventory item called "Trade-in" that you'll use to decrease the amount due from the customer for the sale to which the trade-in will be applied.

When you process both the customer's sale and your purchase of the trade-in item, the customer's invoice will be reduced by the amount of the trade-in. Your purchase of the customer's item will be fully paid, and the trade-in will be entered into your inventory.

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