DEPOSIT TO SUPPLIER and DIRECT DEBIT

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Contributing Cover User Kriztine_23
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DEPOSIT TO SUPPLIER and DIRECT DEBIT

Hi,

I pay my suppliers in advance through direct debit and record the corresponding expense account once their invoice arrives. However, MYOB Accountright makes it impossible to record a deposit to a particular supplier.

What I want to do is record the expense (Purchase) as:
Debit: Expense account
Credit: Trade creditors

For the direct debit:
Debit: Deposit to supplier
Credit: Cash in bank

 
Then I'll close the said purchase by applying the deposit to supplier.

Is this possible? Hope somebody can help me. Would really appreciate it highly.

Cheers! Smiley Happy

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MYOB Moderator Stuart_W
811 Posts
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Re: DEPOSIT TO SUPPLIER and DIRECT DEBIT

HI @Kriztine_23

 

Is this similar to your question you posted over here? If so I'll refer you to that thread, and just post a link to our help note Supplier returns, debits, and refunds. Just make sure you record your debit notes as negative amounts, and assign them to the same supplier as you wish to apply it to at a later date.

 

Please do let me know if you need any further help at all.



Kind Regards,

Stuart W
MYOB Client Support
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