Forum Discussion

DushMel's avatar
DushMel
User
2 months ago

Spend Money entry

Hi, when you are doing a spend money entry, should we put a (-) infront of the amount or not? As it's under spend money label will the system automatically takes as a (-) amount in Accounts or not? 

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  • gavin12345's avatar
    gavin12345
    Ultimate User
    2 months ago

    Hi DushMel 

     

    No. If you are recording for example the payment of $50 for fuel, enter it as a positive amount. MYOB will debit the expense account you specify and credit the 'Pay from' account automatically.

     

    Regards

    Gavin

  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator
    2 months ago

    Hi DushMel,

    Thanks for your post, and welcome to the Community Forum! In addition, when you are entering a spend money transaction, you typically do not need to put a minus sign (-) in front of the amount. The system understands that spend money transactions represent money going out of the account, so it automatically treats the amount as negative.
     

    Therefore, if you enter an amount without a minus sign, your software will interpret it as a negative amount when processing the spend money entry, accurately reflecting the outgoing funds in your accounts.

     

    Feel free to post again, we're happy to help!

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

     

    Regards,
    Earl