Select the accounts to track customer receipts

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When receiving payments from customers, MYOB AccountEdge makes it easy for your to add the payment directly to your checking account or to add it to an undeposited funds account where it will be held until you're ready to make a deposit to your checking account. Every time you receive a payment from a customer, you'll be able to select the option to Deposit to Account or the option to Group with Undeposited Funds.

Every transaction you enter into the system must be assigned to one or more specific accounts. To reduce your data entry time and the possibility of mistaken assignments, MYOB AccountEdge was designed to automatically assign your transactions to the proper accounts at the time you record the transactions. These accounts are called linked accounts. When you created your company file, AccountEdge linked accounts from the accounts list that are most commonly used for specific kinds of transactions. (Why linked accounts?)

Account for Customer Receipts

Review the selection AccountEdge has made for you as your Account for Customer Receipts.

• The account you enter here will appear automatically in the Deposit to Account field of the Receive Payments window each time you open the Receive Payments window, but you can change the account, if you wish, at the time you're entering a payment.

• The account you enter here will also appear automatically in the Deposit to Account field of the Applied Payment Details window when you enter a payment using the Paid Today field of a sales invoice or sales order. When you record a payment using Paid Today, you can't change the account at the time you make the payment. (To change the account in the Applied Payment Details window, the linked account must be changed here in the Easy Setup Assistant window or in the Sales Linked Accounts window.)

If this isn't the account you wish to have automatically appear, click the arrow button next to the account. The Select from List window appears, displaying all your accounts. Highlight the account you want to use, and click the Use Account button. The account you select must have a bank or credit card account type. The account you selected will replace the one AccountEdge originally chose for you.

If none of the accounts displayed in the Select from List window seems right, you can create a new account by clicking the New button in that window. The Edit Accounts window will appear. (If you added or changed accounts in the Accounts portion of the Easy Setup Assistant, you've used the Edit Accounts window already. Simply repeat your earlier steps to create the new account.)

Account for Undeposited Funds

Review the selection AccountEdge has made for you as your Account for Undeposited Funds.

• The account you enter here will appear automatically in the Group with Undeposited Funds field of the Receive Payments window each time you open the Receive Payments window.

• The account you enter here will also appear automatically in the Group with Undeposited Funds field of the Applied Payment Details window when you enter a payment using the Paid Today field of a sales invoice or sales order.

If this isn't the account you wish to have automatically appear, click the arrow button next to the account. The Select from List window appears, displaying all your accounts. Highlight the account you want to use, and click the Use Account button. The account you select must have a bank or credit card account type. The account you selected will replace the one AccountEdge originally chose for you.

If none of the accounts displayed in the Select from List window seems right, you can create a new account by clicking the New button in that window. The Edit Accounts window will appear. (If you added or changed accounts in the Accounts portion of the Easy Setup Assistant, you've used the Edit Accounts window already. Simply repeat your earlier steps to create the new account.)