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Jobird's avatar
Jobird
Experienced Cover User
5 years ago

Selling Inventory with not enough Quantity on Hand

Hi there,

 

This is becoming quite a problem for 1 of my clients and will be a big problem for another client I was about to migrate to MYOB Accountright. We use the Inventory module and so have I Buy, I Sell and I Inventory against each item.

 

Both clients create and send invoices for prepayment of goods that haven't been received into stock as yet. When creating the Sales invoice, if the goods aren't yet in Stock, we need to Build, Buy or Backorder the goods.

 

We would choose either Buy or Backorder, but none of these help at all. The Backorder splits the Customer Sales invoice - 1 invoice for the Quantity currently in Stock and then an Order for the remaining items. But, we want to invoice the customer for the whole amount and have them prepay the invoice, meaning we need to be able to mark it off as paid as well. So, selecting Backorder is no good.

 

If we select Buy, it creates a Supplier Purchase Order (PO) for the balance not in Stock. But it still won't let us save the Customer Sale Invoice as it's a Supplier PO, not a Supplier Invoice and so isn't counted as stock anyway. Also note that we would already have a PO for the purchase of the goods we're waiting for, so selecting Buy which generates another PO is confusing and pointless.

 

The client I was about to migrate to MYOB often take prepayments for goods which haven't arrived into stock as yet. There must be a way of getting this right. Any help would be very much appreciated.

 

Kind Regards,

 

Jo     

  • Hi Jobird , yes payments can be applied to orders. Your linked (sales) accounts should include a liability account for customer deposits. When a payment is applied to an order, MYOB will credit that account. On conversion to an invoice the deposit will be automatically transferred to the credit of the receivables account. 

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  • Mike_James's avatar
    Mike_James
    Ultimate Partner

    Hi Jobird , I recently recommended another forum user with a similar issue to create the sale as an order, but print it as an invoice to send to the customer for payment. Then on shipment, convert to an invoice. Would this work for you?

    • Jobird's avatar
      Jobird
      Experienced Cover User

      Hi Mike, 

       

      It will partly work. When the funds are received from the customer, they can't be marked off against the Sales Order as being paid, can they? 

       

      Kind Regards,

       

      Jo

       

       

      • Mike_James's avatar
        Mike_James
        Ultimate Partner

        Hi Jobird , yes payments can be applied to orders. Your linked (sales) accounts should include a liability account for customer deposits. When a payment is applied to an order, MYOB will credit that account. On conversion to an invoice the deposit will be automatically transferred to the credit of the receivables account.