Hi My director has used her personal card for a business purchase. She has allocations in the 3-2000 account. She wants me to use this personal card transaction to reduce the Drawings account. How do I do this? MYOB doesn't allow me to use 3* accounts for payments. Many thanks.

Hi AshleyR Thanks for your post. One way to deal with this would be to use a suspense type account as the Pay from Account when processing the Spend Money/Pay Bills transaction. You could then record a General Journal, debiting the suspense type account and crediting owner's drawings, to clear the suspense account and reduce the owner's drawings. Please let me know if you need further help. If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Pay a bill via the Owners/Shareholders Drawing Account

Tracey_H
Former Staff
5 years ago
Hi AshleyR

Thanks for your post. One way to deal with this would be to use a suspense type account as the Pay from Account when processing the Spend Money/Pay Bills transaction.

You could then record a General Journal, debiting the suspense type account and crediting owner's drawings, to clear the suspense account and reduce the owner's drawings.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
- AshleyR
  Experienced User
  5 years ago
  Still in relation to this issue ...
  
  I've now been asked to set up a weekly deduction from the owner's pay where a set amount will be directed into this 3-2000 account.
  
  Of course I set this up as a deduction and everything works fine (paygw, super, net goes to 3-2000 rather than director). Where I've come unstuck is getting this amount out of Pay Liabilities. There's nowhere for this to go from this window, but all deductions go there.
  
  How do I now clear Pay Liabilities? Every permutation I think of leaves an account unbalanced because everything is where it needs to be.
  - Tracey_H
    Former Staff
    5 years ago
    Hi AshleyR
    
    This one I'd be careful about how you record it. For example, is it a genuine payroll deduction or is the director just repaying the drawings account? One way to deal with the director repaying the drawings is to process payroll as normal but, instead, of transferring the net amount to the directors bank account the repayment amount gets transferred to the drawings account.
    
    If you do want to record this through payroll, you need to change the Linked Payable Account for the deduction payroll category. Normally it would be the liabilities account but you can change it so the deduction doesn't get allocated to the liability account.
    
    I'd recommend checking with the accountant about the best way to record this for your business/director. Once you know how it needs to recorded let me know and I can give detailed instructions if needed.

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Pay a bill via the Owners/Shareholders Drawing Account

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