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Receiving invoice payments

If you’re receiving a payment from a customer for an invoice entered from the Invoices page, enter the payment from the Invoices page. For more information see Customer payments.

You use the Receive Money page to record any money you receive that is not a payment for an invoice you’ve issued to a customer. You might use the Receive Money page to record things like interest received from your bank, sale of surplus tools and equipment, tax refunds, donations received, government grants, etc.

You can apply a Receive Money deposit to a single MYOB Essentials account, or you can split the deposit between two or more accounts. You can also track any tax or GST associated with the deposits entered.

Combining several deposits into one transaction

You can combine deposits from several payers into one Receive Money transaction, as long as all the deposits are for the same bank account. Just enter each deposit as a separate line item, and select the relevant payer for each line from the Payer column. If you don’t need to keep track of payers, you can combine all deposits into a single line item by leaving the Payer column blank, or by creating a ‘Miscellaneous’ contact to use as a payer.

 

To enter a Receive Money deposit

To enter a Receive Money deposit

  1. From the Banking menu, select Receive money. The Receive Money page appears.
    Essentials receive money page
  2. In the Deposit into field, select the account the money is being deposited into. This must be an account with the type Banking or Credit Card. Learn about your accounts list.
  3. Check that the correct date is selected in the Date field. If not, enter a new date or click the icon next to it to display the calendar and choose a date.
  4. Make sure that the reference number is correct. If not, enter a new reference number in the Reference number field.

    Changing the numbering

    If you change the reference number, you’ll change the automatic numbering. For example, if you change the number to DP000081, the next time you use Receive Money, MYOB Essentials will display the new reference number as DP000082.

  5. Add a note about the deposit in the Notes field. The note should describe the overall nature of the deposit—for example, one deposit may be for a number of items (e.g. a monthly deposit for bank interest).
  6. If you account for tax or GST, choose an option from the Amounts are list.
    • If you want the prices to include tax or GST, choose Tax inclusive (Australia) or GST inclusive (New Zealand). Note that this is the default tax preference.
    • If you want the prices to exclude tax or GST, choose Tax exclusive (Australia) or GST exclusive (New Zealand).
  7. In the Date column, enter the date you received the deposit.
  8. Enter a Cheque No. if applicable.
  9. If you want to keep track of who you’re receiving money from, select the relevant contact from the Payer list. If you haven’t set up the payer as one of your MYOB Essentials contacts yet, you can add them by selecting Add customer from the Payer list and entering their details in the popup window that appears.
  10. In the Allocate to column, select the MYOB Essentials account to which the deposit amount will be allocated. The account name and the Tax Rate (Australia) or GST Type (New Zealand) appear in the list.
  11. In the Description column, add a short description about the item for which you’re receiving a deposit.
  12. In the Amount column, enter the amount you want to allocate to this MYOB Essentials account.
  13. If you’re receiving a deposit for more than one item in this transaction, repeat the instructions from step 7 for each item.
    You can add more lines to the list by clicking Add Lines. To delete a line, click on it to select it and then click Delete Line.
  14. Check that the total amount you’re depositing is equal to the total amount displayed at the bottom of the page, including tax or GST. If it’s not, check that you’ve entered the correct deposit amounts.
  15. When correct, click Save to save the deposit, or click Save & Add to add another Receive Money transaction with the same Date and Deposit into account details already selected for you.
To edit a Receive Money transaction

To edit a Receive Money transaction

  1. From the Banking menu, select Transaction history. The Transaction history page appears.
  2. In the View list, select the bank account into which the Receive Money transaction was deposited, or select All bank accounts.
  3. Find the the Receive Money transaction that you want to edit in the list and click the link in the Reference Number column for that transaction. Receive money transactions have a reference number starting with "DP". The Receive Money page appears, showing the transaction details.
    If you’re having trouble finding the transaction, it might be helpful to adjust the date range shown in the From and To fields, or to click on the Received column heading to show the transactions in order of amount received.
  4. Make the required changes to the transaction. If the transaction:
    • has not been reconciled or matched, you can change any details you require.
    • has been reconciled or matched, you can change everything except: the account into which the deposit was received, the date, the reference number and the total amount of the transaction. You can change the amounts of individual line items, as long as the Total Amount shown at the bottom of the page remains the same.
    • If you need to change any other details, you’ll need to unreconcile or unmatch the transaction before editing it. See Undoing a bank reconciliation and Matching bank transactions for more information.
To delete a Receive Money transaction

To delete a Receive Money transaction

  1. From the Banking menu, select Transaction history. The Transaction history page appears.
  2. Select the Account into which the Receive Money transaction was deposited, or select All bank accounts.
  3. Find the the Receive Money transaction that you want to delete. Receive money transactions have a reference number starting with "DP". If you’re having trouble finding the transaction, adjust the date range shown in the From and To fields, or click on the Debit or Credit column headings to show the transactions in order of amount received.
  4. Click the transaction link (in the Reference Number column) for the transaction to be deleted. The Receive Money page appears, showing the transaction details.
  5. Click Delete at the bottom of the page. A confirmation message appears. If the transaction has been reconciled, deleting it will affect your next bank reconciliation.
  6. Click Yes to delete the Receive Money. The Transaction History page reappears.

If the deleted receive money transaction was created from a bank feed transaction, you'll need to allocate the transaction again.