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Bills and In Tray

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Experienced User tf
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tf
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Bills and In Tray

Can you explain why there is a difference between Bills and other payments in Essentials? I see from the help pages that:

 

"If you need to enter payments that aren’t associated with your suppliers (for example, for telephone bills and bank charges), enter these as Spend Money payments."

 

Why is a telephone bill not a Bill? Is there any difference in how Essentials treats Bills vs Spend Money in accounting terms? Now that the In Tray has been introduced, I could import the invoice for, say, my phone bill and could link it to a Bill. Would that be wrong? (I know you say you're working on us being able to link documents to Spend Money transactions, too, but that isn't available yet.)

 

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MYOB Moderator Liam_M
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MYOB Moderator
Australia
Liam_M
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Re: Bills and In Tray

Hello @tf

When recording a bill you would record two separate transactions - the bill and the payment. When you record a spend money transaction, you only record the payment. So for this reason, spend money transactions can be easier to record. Some people use spend money transactions to record simple payments (such as petrol or phone bills) to companies you may not have a close relationship with, for this reason. They exist for payments when you wouldn't need to track the transaction in detail, and don't want to.

 

To be clear, there isn't really a situation where you HAVE to record a spend money transaction instead of a bill and a pay bills transaction. It's purely there for convenience. You could certainly use a bill transaction instead of spend money for your phone bill.

 

There are some differences to how Essentials handles spend money in accounting terms. These differences lead to situations, where it's better to use a bill transaction. When you record a bill transaction Essentials doesn't show any money changing hands as part of a the transaction. It just shows your accounts payable balance (the total money you owe suppliers) increasing, and the expense you've alloc...



Kind Regards

Liam
MYOB Client Support
Experienced User tf
49 Posts
Experienced User
tf
Experienced User

49Posts

5Kudos

0Solutions

Re: Bills and In Tray

Many thanks, Liam Smiley Happy

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