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Paying a supplier off with daily taking cash

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Cover User
Cover User




Paying a supplier off with daily taking cash

We have a supplier who we pay in cash from canteen takings.  How can I record this in MYOB, so as I am not deducting from the takings twice.  Banked takings already have the supplier payment deducted.

MYOB Moderator Steven_M
25,622 Posts
MYOB Moderator
New Zealand
MYOB Moderator




Re: Cash Transactions

Hi @Bulls


Welcome to the MYOB Community Forum, I hope you find it a wealth of knowledge

The way I would process that situation is having a separate bank account to gather those cash funds to pay off the supplier. I've included those steps below for you:

  1. You would create a new bank account via your Business Menu (top right)>>Accounts - Accounts Lists>>Add accounts
  2. Once that account has been created, when recording your canteen takings you would record a Banking>>>Receive Money transaction for the associated accounts. You would also record a negative line to the newly created bank account for the amount you have taken out to pay that supplier i.e.

    What this will do it, show that the full value of the takings has been recorded as income, you have transferred $x to the newly created account and also reflect the correct value being deposited into the bank account.

  3. Once you have done that Receive Money transaction, you would do a Purchases>>Pay bills transaction as per normal to pay off that Bill. You would need to ensure that the From account is that newly created bank account.

Kind Regards,
MYOB Client Support
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