Supplier deposits New EA DRAFT

A deposit is a payment for goods or services not yet delivered. This means if you make a payment against a purchase order, it's considered a deposit.

How MYOB treats supplier deposits

Because no goods or services have changed hands, MYOB treats deposits differently to other payments. A supplier deposit is typically posted to an asset account because it's not yet considered a payment to the supplier. When the purchase order is converted to a bill, the deposit is transferred from the asset account to your trade creditors account.

To set up MYOB to track supplier deposits, or to check the asset account used for deposits, go to the Accounting menu > Manage linked accounts > Purchases tab > I track deposits paid to suppliers. Tell me more about linked accounts.

Recording a supplier deposit

You can record a supplier deposit when you create a purchase order. Enter the deposit amount in the Amount paid ($) field.

Deleting a deposit

How you delete the deposit depends on the purchase order.

If the purchase order hasn't be converted to a bill

You can simply delete the deposit as follows:

<steps to be confirmed>

If the purchase order has been converted to a bill

<steps to be confirmed>

  Supplier deposit FAQs