Purchases

Entering purchases

Purchases have three different statuses: Quote, Order and Bill

• Quote.  You can easily enter a quote into MYOB AccountEdge to store an estimate or quote you received from one of your vendors. Quotes don't create transactions, so they have no impact on your inventory levels. Quotes can be changed to orders or bills 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 deleted after they're changed, choose Preferences from the Setup menu, then click the Purchases tab and mark the box labeled "Delete Quotes upon Changing to and Recording as an Order or Bill'

• Order.  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, do create transactions 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.

• Bill.   A bill is the recorded purchase transaction. A bill is recorded in the appropriate journal and increases any inventory on hand for items for which you marked "I Inventory This Item" in the Item Information window. Bills can be open, closed or debit memos. Recorded bills can't be changed into quotes or orders.

Entering Purchases using the Bank Register

You can also use the Bank Register window to quickly enter completed, fully paid, miscellaneous purchases transactions with a single allocation account. [Entering purchases (Bank Register)] You should use this method only when you don't require a printed purchase order, when you've fully paid the purchase, and when you purchase non-inventory items.

You can use the Bank Register to quickly enter a purchase using a company credit card, too. You should use this method only when you don't require a purchase order, when you don't need to track a transaction by the accounts payable account, and when you purchase non-inventory items. [To record a company credit card purchase (Bank Register)]

• Entering Purchases Information

• Choosing the purchase you want

• Entering information about the vendor

• Entering line items, header and subtotals on purchases

• Entering additional information about a purchase

• Choosing what to do with the purchase

• Customer trade-ins and special purchases by owners or employees

• Buying from and selling to the same contact

Step by step

• To buy items from a vendor
• To buy services from a vendor
• To make a purchase (Bank Register)
• To record a company debit card purchase (Bank Register)
• To record a company credit card purchase (Bank Register)

Related topics

• Making purchases