Chart of Accounts
With some clients we group the credit cards with the bank accounts in the chart of accounts. I was recently advised by MYOB that a new credit card had to go into the liability section. This has made a bit of a mess of our chart of accounts as we now have some credit cards under bank in the asset section (which was allowed before this change was made) and now some in the liaiblity section.
Why don't we get a choice as to where we want to put a credit card in the chart of accounts? Bank accounts are often overdrafts and yet they are still classified as bank accounts but with a credit balance.
Hi ZevoAdmin
If you do not want to use bank files, you can choose the payment method as Cheque while processing the payroll as shown:
However, if the payment method comes as Electronic payment method by default, you might have to change the method in every employee's card file so you don't have to change it manually while processing payroll as shown:
If you're choosing the payment method as Cheque, also ensure that Bank account for cheque payments is your actual bank account under Setup>>Linked accounts>>Payroll accounts in order to show that everything is coming out directly from your bank account.
Let me know if you have any questions on this.
