Forms in MYOB Premier

 MYOB Premier gives you option for pro-forma and custom-made forms for you to choose from.  However, if you want to make your own or adopt to your existing company forms, MYOB gives you flexibility in making your forms by allowing you to customise with many powerful customisation tools to make the task easy.  The following are summarized below with its corresponding main command centre/feature:


Main Command Centre/Feature

Cheques Spend Money
Receipts Spend Money
Remittance Advices Pay Bills, Spend Money and Credit Refunds
Invoices Sales
Statements Sales
Purchase Orders Purchases
Mailing Labels Card File

When you consider it best to customise the above form according to your business needs, you can do so easily. To do this, go to Setup, then click on Customise Forms.  The  forms that can be customized appears:


To get started to customise a form in MYOB, you have to follow these procedures as follows:

1.    Displaying the form

To display the form you want to customise, go to Setup and choose the form you want to customise.  For example, the form you want to customise is the Cheque, click on this field.  The options for Cheque forms appear:

1.a.  Payment Voucher

1.b. Continuous Feed Cheque

1.c. Laser Cheque

            Please take note that in MYOB, cheque form consist of two parts – the check and the stub and have the option to customise the check and the stub separately or as separate form.  The screenshot for the option appear below:

PIC22.    Setting up the properties of the form

After you display the form on MYOB, click on the Properties button in the tool palette as shown in the screenshot below:


The Properties tool have two tabs:  The Layout Tab and the Options Tab

Screenshot of the Layout tab is shown below:


In the Layout tab, you have to indicate the following:

  1.  The number of forms (in this example, the number of cheques) to be printed per page
  2. The Paper size for the form
  3. The Margins for the form page
  4. For the Form Size, fill in the width and length of the form and not the paper size for each page of the cheque.

In the Options tab, you do and indicate the following:


This option allows you to indicate the grid options, if you opt to show the grid, snap a grid as well as the grid size.

This also allow you for Background Options to use image files as background to the form and where the background will be placed on the form.

3.    Changing, deleting and adding elements

This option allow you to change and add elements to the forms by using the help tools in the Tool Palette available in your MYOB file as follows:

3.1.        Add Data Field

3.2.        Add Text

3.3.        Add Graphic

3.4.        Insert Rectangle

3.5.        Draw Line

Screenshot of the Elements option tools shown below


3.6.        Send to Back

3.7.        Bring to Front

3.8.        Font Style

3.9.        Form Properties

3.10.      Print Preview

Screenshot of the tool options as follows:





Entering Sales in MYOB

MYOB Premier allows you to enter Sales transactions starting from Quote, Order and Bill or Invoice.  The Enter Sales feature allows you to convert the following Sales transaction status:

1)     A Sales Quote that you have entered in MYOB can be converted into a Sales Order, then to a Sales Invoice.  Or you can convert a Sales Quote directly into a Sales Invoice.

2)    A Sales Order can be converted into an Invoice.

3)    A Sales Invoice status cannot be changed into a Sales Quote or a Sales Order.  Otherwise, you have to delete the sales or reverse it.

When you normally issue a sales quote before an order or sales can be recorded, you have to enter the transaction under the Sales Command Centre and click on Enter Sales.


The Sales Window now appear and choose Quote:


Screen below appears showing the Quote window


Enter the necessary information as follows:

  1.  Customer – the customer for which the Sales Quote is issued to.
  2. Terms – you can indicate the sales terms for which the items or services is quoted.
  3. Ship To – the address to which the sales, if materialize will be sent to.
  4. Destination Country –   the country of destination if the sale is to be closed in case of quotes/sales to foreign customers.
  5. Customer PO No. –  this is the Customer reference PO number as basis for the Sales Quote preparation.
  6. Ship –   this is the quantity of the item being quoted.
  7. Item Number –   this is the Item or inventory item being quoted to be sold.
  8. Description – the description of the item being quoted.  The item description will automatically appear when the item number setup have corresponding item description during the items creation.
  9. Price – the price for which the sale is quoted.
  10. Tax Inclusive – you check on the box if the Sales Quote is tax inclusive or not.
  11. Discount – indicate the applicable discount, if any
  12. Job – the applicable job, if any
  13. Sales Person – whenever possible, indicate the sales person making the proposal so that when the sale is finalized, this field will be useful for for future report requirement with regards to sales reports pertaining to sales persons.
  14. 14.  Comment – add comments that are informative and not repetitive on the information already contained on other sales quote fields.
  15. Promised Date – indicate the date of the target date for the delivery of items.

Once you have finished entering the information on the necessary fields, click on Save Quote to save.

Converting a Sales Quote Into a Sales Order or Sales Invoice

There are two ways in order to convert a Sales Quote into a Sales Order or Sales Invoice:

1)     Go to the Sales Window screen and click on Enter Sales and choose on the drop down box and choose Order or Invoice, depending on what sales transaction you are going to do.

Enter the Customer field.   Once you fill in the Customer field, the previous Sales Quote will appear and in case you have entered more than one Sales Quote for the same Customer, you just choose the Sales Quote that apply to the Sales Order. When the Sales Quote appear, click on Use Sale. Refer to screenshot below:


2)     You can also go to the Sales Register window and click on the Quotes tab and search for the Quotes tab.  See screenshots below:


You can record a sale as Invoice status in MYOB Premier without having to indicate a Sales Quote or Order status.  To do so, go to the Sales main command centre and click on Enter Sales and indicate status as Invoice.  Fill in the necessary information as you indicated in the Sales Quote fields and click Record to save.



Changing, Editing and Deleting Transactions in MYOB

In MYOB, you can edit transactions you are entering as well as enable you to delete or those you have entered already.  This feature is activated while you setup PreferencesSecurity option that will allow or not to make changes to entries by clicking on “Transactions CAN’T be Changed:  They Must be Reversed (System-wide)”.  Thus, if you check on the tickbox before this feature, you cannot edit, delete or change unless you do reversal.


If you have not activated the PreferenceSecurity feature to enable transactions to be changed, the following are the ways to change, edit or delete transactions in MYOB:

1)    If you have not yet recorded the transactions in MYOB whether in Banking, Sales, Purchases or Accounts feature:


1a. You can click on Cancel while in the middle of entering a journal whether in Banking, Sales, Purchases or Accounts journal.




1b.Click on Edit on the command centre window and choose Delete.  In case of Spend Money entry, you choose Delete Cheque Transaction and the journal entry screen will be cleared.  Screenshot of the Edit screen appear below:



2.) If you already have recorded the transaction in MYOB

Please take note that in MYOB, you can enable to know if a recorded transaction can be editable or changeable when you see a white zoom arrow (        )  next to the transaction.



2a.To delete a transaction, go to the Edit feature on the Journal Transaction window and then choose Delete.  If you are delete a Spend Money transaction, you choose Delete Cheque Transaction.  Take note that when you delete a transaction, you are permanently removing the transaction in MYOB.  However, you cannot delete a transaction under the following circumstances:

2a1.Sales Transaction cannot be deleted when a payment have already applied to it.  In case you have to continue deletion of the sales transaction, you have to first delete the payment before you can proceed deleting sales transaction.

2a2. Purchases Transaction cannot be deleted when there’s already a payment transaction applied to it or if a supplier or purchase debit have been applied to it.  To do the deletion, you have to first delete the payment or debit before you can proceed to deleting the purchase transaction.  Also, you cannot delete a purchase that will result to a negative inventory figure.

2a3.If you already have prepared a bank reconciliation and is going to delete a Spend Money transaction, this will result for your bank reconciliation to be out of balance.

What’s good to know is that MYOB will prompt you why you cannot delete a transaction on the transaction journal window.  This is a great feature of MYOB to enable you to guide through the MYOB process.

Reversing a Transaction in MYOB

MYOB Premier enable you to be time-efficient and at the same time, enable you to adhere to strict internal control to provide an audit trail for all transactions entered in MYOB. You can do this by going to Setup, click on Preferences and go to the Security tab, which is the last tab on the Preferences window. Now you click on the check box on the field Transactions CAN’T be Changed:  They Must be Reversed (System-wide).  Screenshot of the screen appear below for your reference:


As a result of setting up security on transactions, you can only reverse transactions to zero out the effect of the previously posted transaction journal so that the effect would be as if no journal entry have been made but you can still see the original transaction being recorded and the subsequent reversal for such entry. This feature saves you a great deal of time than having to manually enter adjusting entries and expose to risk of making incorrect adjusting entries that would become another time-consuming process for you to make.

Reversal of transaction can only be done when a transaction is not changeable or not editable.  As previously discussed in the previous topic, a transaction is changeable if a white zoom arrow (      ) appear before the transaction.  While a grey zoom arrow (      ) appearing before a transaction mean that it is unchangeable.   Thus, you have to make a reversal for the original transaction.


To create a reversal, click on the Grey Zoom arrow select on the transaction you want to create reversal.  For example, you want to reverse Spend Money transaction for Mr. J for S$150.00. When you click on the grey zoom arrow, you are directed to the original transaction window of the transaction you want to reverse.


The original Spend Money transaction window appear below:


Now, go to Edit and click on Reverse Cheque Transaction. MYOB will automatically make the reversal entry with just one click.



Please take note that once you have made a reversal, you can further erase the reversal by also going to the Edit menu and click on Erase Reversal.


FindingTransactions in MYOB Premier

In MYOB, all transactions you have entered either using Accounts, Banking, Sales and Purchases all generate a journal entry which result in a transaction being recorded.  In MYOB, you have many options to choose in order to find transactions or information.  The option you choose will depend on what information you want to search and find.  These are as follows:

1)     Using Find Transactions feature in order to search for the following and indicating a date range that would show the items you search for.  This is located under the seven 7 main command centres.  In this option, you can search and find for the following:

1.1.        Account

1.2.        Card

1.3.        Item

1.4.        Invoice

1.5.        Bill

1.6.        Category

1.7.        Job

To search for the above options, you go to the Find Transactions feature which is located below the main command centres.  Refer to the screenshot for the feature below:


2)    Using Transaction Journal of the Accounts command centre. Screenshot of the feature appear as follows:


This feature show the seven tab available to view transactions under the Data From/To  and ID From/TO search criteria.  The following are the seven tabs under this feature:

1)    General

2)    Disbursements

3)    Receipts

4)    Sales

5)    Purchases

6)    Inventory

7)    All

Screenshot of the seven tab under the Transaction Journal appear below:


3)    Through Bank Register in the Banking command centre

This show your transactions in this main command centre and you filter by indicating Dated From/To.   You have to indicate the date range of the transaction so as to further filter your search.


Screenshot of the Bank Register window appear below:


4)    Through Sales Register of the Sales main command centre



Take note that you have to click on the white zoom arrow or grey zoom arrow before the transaction you like to find.  Screenshot of the Sales Register window which show you the six tab for which to get the transactions as follows:

    1. All Sales
    3. Orders
    4. Open Invoices
    5. Returns and Credits
    6. Closed Invoices


5)    Using Purchases Register


To find transactions using Purchases Register, go to the Purchases main command centre and click on Purchases Register. Take note that just like the Sales Register, the Purchases Register shows the six tab also in the same format as the Sales Register in a Purchases setting as follows:

  1. All Purchases
  3. Orders
  4. Open Invoices
  5. Returns and Debits
  6. Closed Bills


The above tabs allow you for more refined filters on searching Purchases transactions.

6)    Using Items Register

Under the Inventory main command centre, you can find transactions affecting inventory by going to Items Register feature and click on the White Zoom Arrow or Grey Zoom Arrow, depending on how the Security for Changing Transactions under the Setup feature. Changing or editing as well as deleting transactions in MYOB is further discussed in the topic This topic is further discussed under the topic Changing, Editing and DeletingTransactions in MYOB.


To view on the transactions affecting Items RegisterThe following screen appear when clicking on Items Register:








Handling Customer Credit in MYOB Premier

Part 17 – Handling Customer Credit in MYOB Premier

MYOB Premier allows you to efficiently manage customer accounts and as a result, your accounts receivable.  To do this, it is designed to enable you to control Customer Credit by any of the following control features:

  1. Put customer accounts on hold or using MYOB feature Credit Holds.
  2. Enable you to control credit limit by setting credit line amount or Credit Limits
  3. Inclusion of finance charges on customer statement of accounts

Putting Customer Accounts on Hold

            MYOB Premier enable you to put customer accounts on hold to prevent further sales transactions. This may apply to instances when customer have overdue accounts regardless of whether customer have reached its credit limit or not as an effective means of increasing accounts collection efficiency.  To put customer account on hold, do the following:

1. On the Cards List on the Card command centre.

PIC12.  On the Cards List window, click on the Customers tab, and select the customer you want to put the hold and click on Edit and select the Selling Details.  Choose Credit Limit and Hold and select Place This Customer on Credit Hold and click OK.  To remove customer from the credit hold, just deselect on uncheck the box on Place This Customer on Credit Hold.


Setting Customer Credit Limit in MYOB Premier

In order for MYOB Premier to enforce credit limit, you should setup in Preferences, in the Setup feature.  Once you are in the Preferences feature, choose on the Sales tab and set the following:

  1. Warn if Credit Limit exceed on sale
  2. Require a password and credit limit override when a new sale is entered that would result to credit limit excess.

Please refer to the screenshot for the Setup – Preferences below:


To set credit limit on the customer credit account, go to the Cards List of the Card command centre and click on Customers tab and select the customer you want to set up the credit limit.  Click on the Selling Details tab and indicate the amount of Credit Limit you want to set in the field.

If the customer have exceeded credit limit, upon management approval, you may lift or increase the credit limit set forth in the Credit Limit field.

To set up finance charges

In case you impose finance charges to customers with late payments, you have to setup tracking account for the finance charges.  To do this, go to the Setup feature and choose Linked Accounts and choose Sales Accounts and then select Assess Charges for Late Payment and select an income account for which to record the late payment charges which you need to setup before doing the linking of accounts.  Click OK to record the link setup.   If you have not created an income account to track the late payment charges, create another transaction window in MYOB so that you don’t need to go out of the SetupLinked Accounts screen.  Screenshot for the following as follows:




Foreign Currency Exchange Rate Loss and Gain

Foreign Currency Exchange Rate, Losses and Gains in MYOB Premier

MYOB Premier is capable of recording foreign currency transactions for the following:

  1. Purchases, Pay Bills and Settle Returns and Debits
  2. Sales, Receive Payments and Settle Returns and Credits
  3. Spend Money, Receive Money, Reconcile Accounts and General Journal Entries

You can enter a new exchange rate for the foreign currency transaction or use the default exchange rate for the currency.  To enter a new exchange rate by first using the Currency Calculator. To change the exchange rate:

  1. Using the Currency Calculator, calculate the exchange rate.  To go to the Currency Calculator, click on Help and choose Currency Calculator.  Please refer to screenshot of the Help window below:


On the Currency Calculator window, enter the transaction details as follows:


You can also use the Currency Calculator to calculate the exchange rate based on the based on the local and foreign currency amount.

How to Track Foreign Currency Gains and Losses

As a principle in foreign currency transactions, any increases or fluctuations in foreign currency value against the local currency give rise to foreign currency gains or losses.  However, if the funds from the foreign currency are not yet used to pay for supplier payments, or withdrawn for local currency exchange conversion, the foreign currency gain or loss is still unrealized.  The following are the accounts that help you keep track of foreign currency gains or losses:

Realized Currency Gains and Losses

Currency Gains and Losses on Sales and purchases are automatically posted to Realized Currency Gains and Losses whenever a foreign currency payment from customer or payment to supplier is made.  The Currency Realised Gain/Loss account is automatically activated when you setup multiple- currency feature in MYOB Premier.  The Currency Realised Gain/Loss Report show you and list all the currency gains and losses that are automatically posted through foreign currency sales and purchases for the period.

A general journal entry have to be made to record realized currency gains and losses on bank transfers, deposits and withdrawals as well as foreign currency conversion to local currency.

To go to the Realized Currency Gain/Loss Report, go to Reports and choose Accounts.

PIC3In the Accounts window, choose Currency, then click on Realized Gain/Loss per screenshot below:


Transferring Funds to a Foreign Account from a Local Currency

There are transactions that require you to record transfer of funds from your local currency to a foreign currency account. To do this, go to the Banking main command centre and click on Spend Money. The Account to be indicated should be the account for the local currency. On the Spend Money window, click on Currency button and choose the foreign currency you are going to enter, for example, US dollars. Screenshot of the window appear below:



Assuming you are going to transfer funds for US$100.00 for payment of freight not chargeable to item purchases from the supplier.  Supplier name is XYZ Company which have a currency profile for US$ previously setup.  To enter the information, fill in the necessary field as screenshot below:

PIC7Take note that the amount recorded for payment is US$100.00 in this window.  However, in the general ledger and upon the viewing the transaction window for General Cheque Account 1100, amount shown as recorded is S$181.30 which is the foreign currency conversion of the US dollars to Singapore dollars.


Setting Up Multiple Currencies in MYOB Premier

Setting Up Multiple Currencies in MYOB Premier

MYOB Premier is capable of recording transactions in multiple currencies.  However, in order for this feature to work properly, you have to complete tasks to enable your MYOB Premier software to work as expected.  The following are the steps to complete to make your MYOB Premier ready to record transactions in multiple currencies:

1.    Select the “I Deal In Multiple Currencies” in System Option.

To do this, go to Setup then click Preferences.  In the System tab, click on “I Deal in Multiple Currencies” and click OK.  See screenshot below:


2.    Create and set up records for foreign currencies

To do this, you have to setup the currencies and enter the current exchange rate.  To get started, go to the Lists menu which is located in the upper portion of the seven main Command centre.


Click on Currencies

PIC3Screenshot of the screen that follows appear below:


If you want to setup another currency not included in the setup, click on New.  On the Currency Profile, the following screen appears.  Fill in the necessary information below to complete the Currency Profile.


3. Create and setup accounts to link and track foreign currency transactions to accounts for purchases and sales.  If you are making payments for your purchases to your suppliers in foreign currencies or selling items and accept foreign currency payments from your customers, you need to specify details on the following tab as applicable:

3.1.        Receivable Accounts tab – If you are using the foreign currency for sales, you have to setup and create link in this tab.  Be sure to indicate the correct information on the fields.  Screenshot of the tab details appear below:



a.    Asset account for Tracking Receivables in this Currency – be sure to link this account to a foreign currency receivable account.

b.    Bank Account for Customer Receipts in this Currency – be sure to link this account to the bank account for which the receipts of payment will be deposited.  This bank account could either be in local currency or in foreign currency.

c.    Other fields that could be linked to setup by clicking on the tick box for check mark as follows:

  •  I Charge Freight on Invoices in this Currency
  •  I track Deposits Collected from Customers in this Currency
  •  I Give Discounts for Early Payments in this Currency
  •  I Assess Charges for Late Payment in this Currency


3.2.Payable Accounts tab – you use this tab to indicate fields and setup links for supplier purchases to be paid in foreign currencies and for customer advance payments or payment deposits for sales transactions.  In this tab, you fill in the applicable fields as follows:

a.    Liability Account for Tracking Payables in this Currency

b.    Bank Account for Paying Bills in this Currency

c.    Other fields that could be linked to setup by clicking on the tick box for check mark as follows:   

  • I can receive items without a Supplier Bill in this Currency
  • I Pay Freight on Purchases in this Currency
  • I Track Deposits Paid to Suppliers in this Currency
  • I Take Discounts for Early Payment in this Currency
  • I Pay Charges for Late Payments in this Currency


4.    Assigning or linking foreign currencies to suppliers (for purchases transactions) and customers (for sales transactions).

You have to assign foreign currency for the each Customer or Supplier Card.  Take note you can only assign a single currency for each card.  So, in case you assign more than one or multiple currencies for a Customer or Supplier card, you have to create another Card for each currency you are going to transact and accordingly assign.  Also take note you cannot assign another currency to a Card with transactions already recorded.

To assign or link foreign currency to a Customer or Supplier card:

4.1.        Go to the Card File main command centre and click on Cards List.  Screen appears as per screenshot below:


The Card window appear as follows:

PIC92. Click on the Zoom arrow to go to the Profile tab and fill up the necessary field. Be sure to indicate the currency to be used in the Currency field and click OK to close the window.  For every card that you are going to setup currency, follow this transaction.  Screenshot for the screen below:







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