BAS

Bubsee80
3 Posts
User

3Posts

0Kudos

0Solutions

BAS

Today i ran the GST Report for activity statement and our total sales are extremly high - i have tryed to dig a bit deeper and im wondering if i mark and invoice off as paid but dont match it to a bank feed payment will it double up the payment? We get alot of bulk payments from our customers with multiply invoices and i allocate those to Sales 1 but then individually mark the payments too - i have done a cash basis report too but it is still very high.

 

Regards

3 REPLIES 3
Highlighted
MYOB Moderator Steven_M
32,587 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,587Posts

4,341Kudos

0Solutions

Re: BAS

Hi @Bubsee80 

 

If you do get a bank transaction in that relates to transactions you have recorded in MYOB Essentials i.e. payroll transactions or customer payments, you want to match the bank transaction with that MYOB Essentials transaction. By selecting to allocate that transaction to an account you tend to double up on values. For example, you have the income from your sales and that of the invoices. 

 

Generally speaking, if you have allocated the transactions rather than matching you ideally want to unmatch the transaction. This can be done by navigating to the transaction in the Bank Transactions window and selecting the X window on the far right of the right side of the window. This will unmatch the transaction so it can be rematched to the appropriate transaction.

 

By matching the transaction you will not be doubling up on the income and the sales so the GST and account-based reports will not be doubling up.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Bubsee80
3 Posts
User

3Posts

0Kudos

0Solutions

Re: BAS

Thank you for your reply i understand i need to match is fine my only question is we are being paid invoices prior to starting with MYOB am i best to still allocated these to an invoice or better to put it under sales1 and only allocate invoices where they match in MYOB - does that make sense?

MYOB Moderator Steven_M
32,587 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,587Posts

4,341Kudos

0Solutions

Re: BAS

Hi @Bubsee80 

 

I would be following Help Article: Entering historical sales and purchases and entering in those historical outstanding transactions. These transactions will then appear in the Take payments window so payment can be made or in the Bank transactions window so the payment can be matched to it.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Didn't find your answer here?
Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post