Step 1: Choose the purchase you want
Step 2: Enter information about the vendor
Step 3: Enter line items
Step 4: Complete the purchase
Step 5: Choose what you want to do with the purchase
Purchases have three different statuses: Quote, Order and Bill
You can enter a quote into MYOB AccountEdge to easily store an estimate or quote you received from one of your vendors without creating a transaction. A quote has no impact on your inventory levels and can be changed to an order or bill when you're ready to purchase. The original quote will be stored in the Purchases Register after it is changed to an order or bill. If you want quotes to be removed after they're changed, choose Preferences from the Setup menu to display the Preferences window, then click the Purchases tab and mark the box labeled "Delete Quotes upon Changing to and Recording as an Order or Bill."
An order is a purchase that you expect to occur sometime in the future. Orders aren't actual transactions that affect your financial and inventory numbers; they merely store purchase information until you're ready to use them. Orders with bill payments applied to them, however, will create a transaction in AccountEdge. You can record an order as a bill if you go ahead with a purchase or delete it if you decide not to buy. Bills can't be changed to quotes once they've been entered into AccountEdge.
| Note: If you've used a previous version of AccountEdge Orders behave much like pending purchases, which no longer exist in AccountEdge Version 2. Just like a pending purchase, an order will capture all the information available on a bill, yet won't be recorded as a purchase transaction. Also, any money paid to the vendor will post as a paid deposit. |
A bill is the recorded purchase transaction. It records a transaction in the appropriate journal and decreases any inventory on hand for items for which you marked the I Inventory This Item option in the Item Information window. Bills can be open, closed or debit memos. Recorded bills can't be changed into a quote or an order.
You can also use the Bank Register window to quickly enter completed, miscellaneous purchases transactions with a single allocation account. See Entering purchases using the Bank Register.
Before you begin entering purchases into AccountEdge, read the topics below for some helpful information:
Purchases Overview - Entering purchases