MYOB
How do you record advertising expenses on credit into MYOB?
Hi CXT - welcome to the Community Forum !
Normally with an advertising expense, you would raise a Puchase or Spend Money transaction, allocated to account 6-[xxxxx] Advertising (tax code GST inclusive)
In your case, I suspect you may have instead been given some form of free advertising, by one of your customers, partly in lieu of their full payment. For example, if you sell specialist food to a food store, they might run a promotion with some of your branded food being given away as free samples. Such as a barramundi farm providing free cooked samples at a new supermarket opening (as happened at our new Coles - Palmerston store last year). These situations are called "Contra transactions". They're fairly common in airlines, hotels, newspapers and magazines. If this is you, see this Forum Discussion - How do I do this kind of transaction in MYOB and this Support Note - Dealing with a supplier who is also a customer
Kym Yeoward, CPA & MYOB Advisor
Palmerston NT (near Darwin)
