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MYOB Essentials

Chart of accounts: Allow for Wages and Salaries to be a cost of sales account

1Posts

3Kudos

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1 Post
User
New Zealand

MYOB Essentials Payroll expense allocation. I have Contractors that I take and pay Withholding Tax for, and the system automatically calculaes each month how much their Gross Pay and Withholding Tax is from the weekly payments. Unfortunatley the system automatically allocates these expenses to Wages and Saleries as an "Expense" however I need to allocate the expense to "Cost of Sales" as they make up approx 80% of my cost of Sales. The simple solution to this would to be to un-padlock the Wages and Saleries account and let me change this from "Expense" to "Cost of Sales". Can this please be done and if not why not; as I am sure this is the same sceniro for many tradesmen running small businesses.

 

"Expense Accounts & Cost of Sales Account"

Current Status: Done
Last Changed: a month ago

Hi Everyone


MYOB Essentials allows user to set their own default wages and salaries account. This could be an expense or cost of sales or another type of account, if required.

 

Note: This change is available for the new MYOB Essentials platform. Existing (original) MYOB Essentials platform users will be migrated across to the new platform in due course based on the complexity of their MYOB Essentials product level. At the time of posting, migrations are already underway.

5 Comments
TRG
3 Posts
Cover User

In MYOB Essentials can the fixed payroll accounts (wages and superannuation expense) be allocated to account type "Cost of Sales" and not just "Expenses".

 

"Chart of Accounts"

Liam_M
MYOB Staff
3,488 Posts
MYOB Staff

Thanks for your suggestion. Anyone who would like to be able to select accounts for payroll, and be able to select cost of sales accounts, please cast your vote here.

mey
Partner
6 Posts
Partner

Make available the option to edit the Account Type for linked accounts such as Wages & Superannuation. I have a few clients that require it to be a COGS item, it is currently locked with the default being “Expense”.

 

"Edit Linked Account Type"

CAMEX
2 Posts
Cover User

Currently wages are allocated to account number 6-6400 which is an expense. Our business is predominanlty a labour based business and i want to see wages allocated as a "cost of sales' but with out having to do a journal entry every time i enter wages. Hence our current wage account is 5-2760. Surely in this day and age, when we can put men on the moon ( so I am told), we can have the option, somewhere in the system to have the wages allocted to the account of our choice.  

Steven_M
MYOB Moderator
41,652 Posts
MYOB Moderator

Hi Everyone


MYOB Essentials allows user to set their own default wages and salaries account. This could be an expense or cost of sales or another type of account, if required.

 

Note: This change is available for the new MYOB Essentials platform. Existing (original) MYOB Essentials platform users will be migrated across to the new platform in due course based on the complexity of their MYOB Essentials product level. At the time of posting, migrations are already underway.