Creditor and Debtor journal entry not available in Essentials

Ehlow
3 Posts
Cover User

Creditor and Debtor journal entry not available in Essentials

Hi,

 

How to do a journal entry in Creditor or Debtor in Essentials ? 

I could not find this option.

 

Thank you.

 

Regards.

3 REPLIES
MYOB Moderator Steven_M
18,807 Posts
MYOB Moderator
New Zealand

Re: Creditor and Debtor journal entry not available in Essentials

Hi @Ehlow


Welcome to the MYOB Community Forum, I hope you find it a wealth of knowledge

 

To record a journal entry in MYOB Essentials you would select the General Journals option using the Business Name menu drop down in the top right and then select Create Journal. MYOB Essentials Help Article: General Journals would be able to assist with that

 

Please note that a general journal entry debits and credits the accounts and doesn't impact a creditor (Supplier) or debtor (Customer). If you are needing to do that you would use the Enter Bill or Enter Sales window.

 

Do let us know how you get on and if you require further assistance.


Kind Regards,
Steven
MYOB Client Support
Ehlow
3 Posts
Cover User

Re: Creditor and Debtor journal entry not available in Essentials

Hi Steven, Thank you for your response. General Journal does not allow you to make adjustment to a creditor or debtor account. It only relates to GL account.

 

We have paid a deposit to a supplier, received a bill later.

There is no option to do a journal to pay the supplier from Deposit account.

 

Journal adjustment in debtor or creditor is quite common.

 

Regards.

MYOB Moderator Steven_M
18,807 Posts
MYOB Moderator
New Zealand

Re: Creditor and Debtor journal entry not available in Essentials

Hi @Ehlow

 

MYOB Essentials doesn't allow for you to direct affect the balance of a customer (or a supplier) outside of the Sales (or Purchases) module. Along with that MYOB Essentials believes that if you are receiving payments (or doing payments) these are for already recorded transactions and thus doesn't allow for direct deposits to be made. 

 

However below is the common way that people deal with the deposits for customers:

  1. Create an invoice for $1.
  2. You would then go to Sales>>Take Payments and make payment on that invoice for the amount of the deposit.
  3. Go back into that recorded invoice and change the amount to be $0.00
  4. As you have that payment on the invoice it will now show that invoice as being overpaid. Along with that a Customer Return will be created, which can be seen in Sales>>Process Customer Returns. You can then apply to an invoice (when ready) or refund it to the customer (if required). 

Supplier deposits use a similar process just with the Purchases and Pay bills windows.


Kind Regards,
Steven
MYOB Client Support
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