MYOB purchase orders are important to get right as they contribute to data accuracy and workflow. If you are a beginner, there are certain functions you have to know in order to fully utilise and benefit from using MYOB. Here’s a 5 step beginner guide to MYOB purchase orders to get you started:
- Recording Purchase Orders
In order to start recording the purchase orders you have received, open up your Purchases command centre and look for the enter purchases option. Look for the top left corner and choose the arrow next to the field so that you can choose ORDER instead if it has not been chosen by default. You will then be prompted to fill in information so make sure to do that as concisely as you are able, according to the information you have currently at hand. Choose the supplier you need, the area it is shipped to, make sure the terms are correct and tweak the purchase number if you are required. Confirm data accuracy before clicking on record.
- Credit Purchase Conversion
Convert your purchase order into credit purchases by looking for the Purchases Register in your MYOB software. Select the Orders tab so that you can view the purchase orders list you have created and choose the suppliers you want to display. Select the supplier you want and look for the specific purchase order you need from the supplier. After which, select it and choose the change to bill option so that it can be converted. You can then record according to what you need and make sure the information input is right.
- Accounts Payable Settlement
For accounts payable, look under the purchases command centre again and choose the Pay Bills option. This will allow you to record supplier payment- choose the account you want your payment to be recorded on. If it is a direct payment from your bank account (payment through credit cards or cheques), you can choose the pay from account option. If you want your payment to be grouped with a group of electronic payments, look for the Prepare electronic payment option under the Banking Command centre instead.
- Create Supplier Note
When it comes to purchase returns, you will first have to create a supplier note/debit note. To begin doing so, look for your Purchases Command Centre on your MYOB software. Choose enter purchases and look for the BILL field option. Make sure to enter the details of your purchase return and indicate negative amounts under the Bill section of the window that pops up for you. Once you are done with it, check to make sure everything is in order and record it.
- Apply Supplier Note
After creating your purchase return supplier note, you will now have to apply it to a purchase invoice that is still outstanding. Look under the Purchases Command Centre and choose Purchases Register. Choose the tab that states returns and debits so that you can access your supplier note and choose the relevant supplier. You can then be able to locate the supplier you want to use and look for the PO# that you want to apply. Choose it and click apply to purchase so that you can apply it. You will then have to finalise it by choosing record.
These are some of the most crucial things to know about MYOB purchase orders. Make sure to practise and get acquainted with the procedures so that you can easily maintain data accuracy in your everyday projects!