SusieExpTech
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Recording Sales of inventory stock to various online customers
What is the best way to record online sales? We have previously had inventory stock that we have sold only to regular customers with accounts and a Customer Card in MYOB. We have now included an online store, also an eBay store. Therefore we have various customers now and we need to work out what will be the best way to record sales of our stock in MYOB. It doesn't seem to make sense to create a CustomerCard in MYOB for every individual person purchasing from our web store and processing an invoice. What do you suggest is the best way to record the movement of our inventory and matching the payments in the Bank Feed?11Views0likes1CommentRe: Reports on purchases
ThanksCelia_B, yes we already run those reports. Running a report that will include the time frame between ordering and receipt of goods would be very helpful.This seems like a very valuable feature that MYOB should have. Leadtimes are something that we discuss in meetings all the time and the way MYOB has all of this information but we cant print reports to include it is a shame. When I explained to our MD that MYOB only gives the one place to record the date, then when we receive goods we need to change that date, rather than enter a "received/invoice date" and have a place that keeps the original Purchase Order date, he asked me to contact MYOB and find a way to have both order date and received date/invoice date. Its a shame we cant. I hope this is something that MYOB can consider.218Views0likes0CommentsInventory "Current Value" is a negative value, stock number is correct
Can someone please help Through out the last 15 months my MD has been making stock adjustments on 1 particular stock item and now our value is all out of whack The quantity is correct at 0 on hand. But the Current Value is at -$546.29. All the inventory items are accounted for and sold. How will I make that amount $0 as we have 0 on hand? I tried a stock adjust to increase the value by $546.29 with 0 inventory items added, and it gave me an error message that said "The value of your inventory may not be less than zero". Im trying to fix that. Please help.230Views0likes1CommentReports on purchases
Hi Community, Is there ANY WAY that I can run a report that will show my suppliers leadtimes? I know I can see the original date of my PO when I convert it to a bill. I amend the date to the suppliers invoice date and it doesnt save my original date that I created the PO, but my manager wants to run a report for a particular supplier to see the history of the time frame from the date of our Purchase Order to the date that we receive the goods. Any help?267Views0likes2CommentsFinancial year wont close
Hi everyone! I have had this issue of closing my financial year for the past 5 years. Please help me. I have confirmed my company file. I have gone through the steps of closing my financial year, it does the back up, it tells me my financial year is closed, my MYOB refreshes, and still I'm stuck on FY 2022. Every year I have to call MYOB and I'm stuck on the phone for far too long to rectify the issue. What do I do? I am using AccountRight Plus AU 2023.6.0, Build: 2023.6.1.4. Why wont it just close?Solved335Views0likes2CommentsPayPal transactions and how do I record them
Hi Guys, We use PayPal on our webstore now and I need advice on recording payments and also reconciling transactions. Our PayPal is connected to our credit card, so I just record and reconcile payments made by us using paypal through the Bank Feed for the credit card. Now our customers are paying by PayPal method and we are choosing to leave the funds in the PayPal account because we will use those funds for purchases anyway. I have all of the appropriate accounts opened for PayPal, as per the MYOB Help page. Now I have questions: Can I enter a customers purchase as a journal entry rather than a Cash Sale? And seeing as we will be using "PayPal monies" to pay for some things, do I need to reconcile incoming and outgoing payments from the PayPal account from now on?262Views0likes1CommentRe: Reconcile a payment made through our website for an inventory item
Thank you for your responseLeneth_A The customer was charged and paid the amount of $12.19 as a credit card surcharge fee from our web provider and our web provider keeps the $12.19 and deposits our sales monies in the amount of the difference. I have decided against recording it as a Sales Invoice and do it as a Journal Entry instead. What I have done is created a new sales account as an Other Income account for Webstore Sales: Parts. This also assists Management in viewing reports for Webstore Sales against regular Purchase Orders - as they prefer to keep it separate to monitor the difference between the two. I have entered this sale as a RecordJournal Entry against the Webstore Sales account in the full amount, separating the $12.19 as a Transaction Fee, and our sales monies is in the exact amount that is deposited into our account, recorded against our Business Bank Account. EG: Acct Name Debit Credit 1-xxxx Bus. Acct $667.31 6-xxxx Transaction Fee $12.19 4-xxxx Webstore Sales: Parts $679.50 Then I have completed an Adjust Inventory for the part in our inventory in a quantity of -5 for the sold items, against the account that I created for the Webstore Sale: Parts. EG: Item Number Quantity Unit Cost Amount Account (Part #) -5 $xxxxxx $xxxxxx 4-xxxxWebstore Sales: Parts311Views0likes1CommentReconcile a payment made through our website for an inventory item
Hi Guys, We have launched an online store as part of our business. We have just made a sale for an item that is in our inventory (in a quantity of 5) to a customer. What I thought I would do is enter the sale as a new sale invoice to take the inventory count of 5 out of our stock. But now I'm stuck with the credit card surcharge and reconciling the payment in my bank feed. Sale amount to the customer is $695.50, but the deposit amount in my bank feed is $667.31. I can match this amount in my bank feed, but im left with the $12.19 outstanding on my Sales Invoice's "Balance due". Im wondering if this is the best way to be doing my online sales transactions? And what do I do to record my transactions efficiently for tracking inventory and recording credit card surcharges?333Views0likes3CommentsRe: Credit Card Surcharge
ThanksChrisMYOB Still confused by it as I am looking at last months transactions now - two transactions both paid by Credit Card. I'll show you what I have worked out. September transactions: 2 Charged to the customer: Date Paid Invoice Amount 1.8% 15/9 $2,343.84 + $42.19 15/9 $2,469.13 + $44.44 Totals $4,812.97 + $86.63 (Including GST) = $4,899.60 $86.63 and $0.50 for 2 transactions, will be $87.13 Charged to us from MYOB Invoice Invoice total: 2 transactions is $88.69 (including GST) Which is 1.8% of the total amount paid to us by our customer (inclusive of the 1.8% they paid) $4,899.60 x 1.8% = $88.19, plus $0.50 = $88.69 So MYOB charges the customer 1.8% per invoice, and we get charged 1.8% of the total amount paid to us, including the 1.8% paid by the customer, plus $0.25 per transaction. I thought we were just "passing on" the charge to our customer and paying a 25cent transaction fee, which is why my figures dont reconcile.1.6KViews0likes2Comments