Asset Account for Tracking Receivables in this Currency

Enter the asset account that will be used to track the money that people owe you for sales made in the selected currency. This required account is usually named "Accounts Receivable" or something similar. In MYOB AccountEdge documentation, this account is referred to as your linked receivables account for the selected currency.

Bank Account for Customer Receipts in this Currency

Enter the asset account that will be used to track the money you've received from people for sales made in the selected currency, and from which you write refund checks in this currency to your customers. This required account is usually named "Checking Account" or something similar. In MYOB AccountEdge documentation, this account is referred to as your receivables checking account for the selected currency.

I Charge Freight on Invoices in this Currency

Mark this option if you ship physical items to customers who use the selected currency and charge them a separate amount for shipping.

If you mark the checkbox, the Income Account for Freight in this Currency field appears. Select the income account that will be used to track the freight amount on invoices you record in the selected currency.

I Track Deposits Collected from Customers in this Currency

Mark this option if you allow your customers to make deposits on sales orders and you plan to track those deposits in MYOB AccountEdge using orders.

If you mark the checkbox, the Liability Account for Deposits Received field appears. Select the liability account that will be used to track deposits made in the selected currency on orders. In MYOB AccountEdge documentation, this account is referred to as your linked customer deposits account for the selected currency.

I Give Discounts for Early Payments in this Currency

Mark this option if you extend credit terms (for example 2%/10, Net/30) that reward customers who use the selected currency with a discount if they pay their accounts early in the billing cycle, rather than at the end of the cycle.

If you mark the checkbox, the Expense or Cost of Sales Account for Discounts field appears. Select an account that will be used to track discount amounts that you've provided to your customers who use the selected currency if they pay their bills early. (The type of account you select in this field depends upon what purpose you consider discounts serve in your business. If you think discounts increase the cost of making a sale, enter a cost of sales account here. If you think discounts are promotional expenses, enter an expense account here.) In MYOB AccountEdge documentation, this account is referred to as the linked customer discounts account for the selected currency.

I Assess Charges for Late Payment in this Currency

Mark this option if you charge customers who use the selected currency a fee if their payments later than their payment terms allow.

If you mark the checkbox, the Income Account for Late Charges field appears. Enter an income account that will be used to track finance charge amounts that you've collected from customers who haven't paid their bills on time. In MYOB AccountEdge documentation, this account is referred to as the linked customer late charges account for the selected currency.

New button

Click this button to open a new Currency Information window and set up new currency records

OK button

Click this button to accept the entries you've made in this window.