Forum Discussion

JenCas's avatar
JenCas
Contributing Cover User
2 years ago

any work around for adding a deposit to an order?

Hoping someone has worked out a way to apply a deposit to an order ? A deposit is often paid a month before the invoice is raised - with MYOB Business i can no longer place a payment against an order - don't want to invoice as the client that early as it leads to them receiving  overdue notices.  Not being able to apply deposit is making reconciling bank so time consuming - have made it a suggestion to MYOB but not having the ability to apply a deposit is adding hours of work

Grateful for any suggestions / help 

colleenw@aapt.net.au

14 Replies

    • colleenWatson's avatar
      colleenWatson
      Experienced Cover User
      12 months ago

      This solution is for Account Rights. What about MYOB Business?

      We were forced to upgrade so our subscription didn't go through the roof. The MYOB Business does not do what we require.

      We are a hire company, and 100% of entries are Sales Orders with a deposit. You CANNOT receive a deposit on a sales order. 

      What is the solution? without having to waste time.

      • JenCas's avatar
        JenCas
        Contributing Cover User
        12 months ago

        Hi Colleen 

        how are you currently doing it?

        I do up an invoice for a little more than the deposit and don’t put clients email in - I am worried about missing an invoice so having it a little over the deposit it comes up as unpaid -my way of ensuring an invoice is raised- as you have said rather time consuming and very frustrating 

        it was very simple in account right but can not work out a better way with MYOB business and the increase in account right meant we had to transfer over. Would love to hear if your way is better than mine but would love it to be fixed by MYOB 😞

         

    • JenCas's avatar
      JenCas
      Contributing Cover User
      12 months ago

      Yes we still haven’t got a solution 

  • JenCas's avatar
    JenCas
    Contributing Cover User
    2 years ago

    Hi Earl - thanks for the links but no what i am after - i wish do be ale to put a deposit towards an order - which would become an invoice once goods are ready 

  • colleenWatson's avatar
    colleenWatson
    Experienced Cover User
    12 months ago

    I am working on it, but it is a three/four-step solution. I am just checking to see how it affects reporting and GST.

  • Mike_James's avatar
    Mike_James
    Ultimate Cover User
    12 months ago

    Until a proper solution is provided, here's a workaround (untested) that I have seen posted elsewhere:

    • create a "Deposits held" liability account, type Credit card
    • Use Receive Money to record the deposit to that account. Put the customer name and order number in the reference.
    • On the invoice, add a negative line, no GST, for the deposit, allocated to that account.

     

  • colleenWatson's avatar
    colleenWatson
    Experienced Cover User
    10 months ago

    Hi Mike

    That is ok if your order becomes a sale in a short time.

    My S/O can be up to 12 months before they become a sale. Reconciling my deposit-held account can sometimes be frustrating, but that is what it is.

    What I have come up with is:

    1. Create your sales order as usual.

    2. Create a customer service invoice with tax as (NT)

     (I use the s/o no. with a C, e.g. 123C, to keep track if needed)

    with the deposit amount to the liability account for customer deposits.

    In the following line, do a (-)credit for the same amount to the bank account where the money was deposited.

    This will be a nil invoice. It puts the deposit into the deposits held and the banking account to be reconciled.

    3. When the S/O becomes a sale.

    a. I use the S/O no. as the invoice no.

    b. Create a credit invoice for the deposit amount to Customer deposits held. Tax (NT)

    c. Allocate credit to the customer's invoice.

     

    The Customer Held account has two entries, DR and CR.

    The invoice has the correct balance after the deposit has been allocated.

     

    I hope this helps

     

     

  • colleenWatson's avatar
    colleenWatson
    Experienced Cover User
    10 months ago

    https://community.myob.com/discussions/bus-sales/any-work-around-for-adding-a-deposit-to-an-order/868790/replies/876393

     

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