MG-14
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Entering payments made via a third party for supplier invoices
I have started using a broker (OFX) to pay our invoices from our supplier in Germany. To process this in MYOB, I was planning to: Set OFX as a contra ‘bank’ account Enter the supplier invoice as per normal Pay the supplier invoice from the OFX Bank Account Enter a purchase for the OFX transaction, including the supplier invoice total and their administration costs. Pay for this OFX transaction from our main bank account My question is, I’m not quite sure how to enter the OFX transaction. I assume I will need to make a purchase, but given the supplier invoice has already been raised and the purchase allocated to the inventory cost of sales account. What account do I allocate OFX purchase to…Solved754Views0likes1Comment