Forum Discussion

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 ...
  • Mike_James's avatar
    Mike_James
    5 years ago

    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. 

Mike_James's avatar
Mike_James
Ultimate Partner
5 years ago

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
    5 years ago

    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
      5 years ago

      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. 

      • Jobird's avatar
        Jobird
        Experienced Cover User
        5 years ago

        Thanks so much Mike_James ,

         

        Is there a way of getting MYOB to have a look at how Inventory handles Prepayments going forward? It might be another option at the Build/Buy/Backorder stage.

         

        Kind Regards,

         

        Jo

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