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Sales transactions

One common task you will perform in your MYOB software is to enter details of sales transactions. Sales transactions are entered into your MYOB software using the Sales - New Item window, which is just like filling out a sales invoice. Your MYOB software then uses this information to record the journal entry and post the transaction to the appropriate general ledger accounts. The balance of the customer's account is also automatically updated. This topic demonstrates how to record different types of sales transactions, from converting a sales order to a sales invoice to recording credit and cash sales (and everything in between!).

The following topics are covered:

Converting a sales order to a credit sale

The process of converting a sales order to a credit sale in your MYOB software involves converting the previously recorded sales order to a sales invoice. To do this you need to find the sales order in your MYOB software. In the Sales Command Centre, select Sales Register.

Select Sales Register

This opens the Sales Register window. The following screenshots and reference table show step-by-step instructions on how to convert the sales order to a sales invoice. Note that each step is assigned a reference number to help you identify the appropriate field or icon in the screenshots.

The Sales Register window - converting a sales order to a credit sale

Converting sales order to a sales invoice - image 01
Converting sales order to a sales invoice - image 02 Converting sales order to a sales invoice - image 03
Step MYOB software field or icon Action
Sales Register window
1 Orders tab Click the orders tab to be able to view the sales orders for the dates specified.
2 Search by Select All Customers if you wish to display the sales orders for all customers. Select Customer to view all sales orders for one specific customer. Note that if you choose Customer, an additional drop down field will automatically be displayed next to the 'Search by' field. Click the search icon in this new field to display the Select From List window where you can select the specific customer whose sales orders you wish to view. Click the Use Customer button to select that customer.
3 Dated From, To Enter the date range for the sales orders you wish to view.
4 Sales order list In the list, identify the sales order you wish to change to a sales invoice. Select this sales order by clicking on it.
5 Change to Invoice Click the Change to Invoice button to open the Sales - New Item window for that sales order.
Sales - New Item window
6 Invoice tab Notice that the Sales - New Item window displays the invoice tab and is coloured blue, the colour your MYOB software uses for invoices. All of the information from the sales order has been transferred to this invoice.
7 Date Enter the date of the invoice, that is, the date the goods are shipped.
8 Ship Your MYOB software automatically populates this field with the number of items ordered. If you deliver less than the number of items ordered in the sales order, change this to the number of items actually delivered.
9 Record Check that all the details in the sales invoice are correct and click the Record button to record the sale.

Helpful hint!

Note that you can add additional items of inventory to the same sales invoice simply by entering the details of the additional items of inventory in a new row on the invoice. Your MYOB software will add those items to the invoice and recalculate the new total of the invoice to include the sales order items and those additional items.

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Recording credit sales

Recording a credit sale of inventory to a customer into your MYOB software is very similar to recording a sales order, except that you select INVOICE rather than ORDER in the Sales - New Item window.

To record a credit sale into your MYOB software, open the Sales Command Centre and select Enter Sales.

Select Enter Sales

This displays the Sales - New Item window. In the top left hand corner of this window there is a field from which you can choose QUOTE, ORDER, or INVOICE. If INVOICE is not already displayed in this field, click the arrow next to this field and change the field to INVOICE.

Select INVOICE from the drop down list
Puzzle icon

Helpful Hint!

If you are completing our software practice set and the title of the window is not Sales - New Item, it is because your MYOB software is displaying a different layout for that window. To change this to the Sales - New Item window, click the Layout icon at the bottom of the window. In the Select Layout window that appears, select Item and click the OK button. The title of the window should automatically change to Sales - New Item.

You should now notice that the colour of the window has turned blue, the colour your MYOB software uses in the Sales - New Item window to indicate that you are recording an invoice. Here, you can enter the details of the credit sale into your MYOB software. The following screenshots and reference table show step-by-step instructions on how to enter a credit sale into the Sales - New Item window. Note that each step is assigned a reference number to help you identify the appropriate field or icon in the screenshots.

The Sales - New Item window with reference numbers

Enter Credit Sale image 01 Enter Credit Sale image 02 Enter Credit Sale image 03 Enter Credit Sale image 04
Step MYOB software field or icon Action
1 Customer Click the search icon to open the Select From List window where you can select the customer to which the sale relates to. Click the Use Customer button to select the customer. Notice that when you select the customer, your MYOB software automatically populates certain fields with information about the customer that you entered when you added the customer into your MYOB software during the setup process. You can accept that information or manually change it for this sale.
2 Terms This field is automatically populated when you select the customer. You can accept this information or change it for this sale by clicking on the zoom arrow.
3 Ship To This field is automatically populated when you select the customer. You can accept this information or change the Ship To details if required by selecting an alternate address from those you have already set up for that customer.
4 Invoice # Accept the invoice number your MYOB software automatically assigns to this invoice or enter the invoice number you wish to use.
5 Date Enter the date of the credit sale.
6 Customer PO # Enter the customer's purchase order number in the Customer PO # field if known.
7 Ship Enter the quantity of the first item ordered.
8 Item Number Enter the item number of the item of inventory sold. If you do not already know the item number, click into this cell to select the cell. You should notice that a box appears around the cell. You should then press <tab> on your keyboard to display the Select from List window where you can scroll through the list of inventory items. Click on the appropriate item of inventory to select it, then click the Use Item button.
9 Description When you select the item of inventory using the Item Number field, your MYOB software automatically populates this field with the longer description of the item of inventory. Read this description to check that you have selected the correct item. Then press <tab> on your keyboard to move to the next field.
10 Price,
Total,
Tax 		Your MYOB software automatically populates these fields with the default information specified when that item of inventory was set up. You can either accept the default information or enter any changes directly into the appropriate field. Note that if you change the price, your MYOB software automatically calculates the new Total for that number of items. Alternatively if you change the amount recorded in the Total column, your MYOB software will calculate the percentage discount and record it in the Disc% column.
Helpful hint! You can enter additional items of inventory ordered by repeating steps 7 to 10 in a new row.
11 Record button Once you have reviewed the information entered for the sale, remember to click the Record button to record the sale.
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Recording part cash part credit sales

Recording a part cash and part credit sale involves recording the full amount of the sale into the Sales - New Item window, just like recording a credit sale. Then, the cash receipt is recorded separately in the Receive Payments window. Note that you are able to record the payment received from the customer while recording the credit sale in the Sales - New Item window. However, if you are completing our software practice set we recommend that you use the Receive Payments window to record the cash receipt. This is because the Sales - New Item window does not show all line items in which you are able to view and record the details of the cash receipt.

For instructions on how to record the sale into the Sales - New Item window see the recording credit sales instructions as just described. Then, in the Sales Command Centre select Receive Payments to open the Receive Payments window.

Select Receive Payments

This opens the Receive Payments window where the receipt from the customer can be recorded. The following screenshots and reference table show step-by-step instructions on how to record the cash receipt from the customer into the Receive Payments window. Note that each step is assigned a reference number to help you identify the appropriate field or icon in the screenshots.

The Receive Payments window with reference numbers

Receive Payments window image 01 Receive Payments window image 02 Receive Payments window image 03
Receive Payments window image 04
Step MYOB software field or icon Action
1 Selecting the account There are two options to select the general ledger account to which the receipt will be recorded.

Deposit to Account: If the receipt is to be directly deposited into a bank account, select the Deposit to Account option. Then use the search icon to select the general ledger account that records receipts or payments for that bank account.

Group with Undeposited Funds: If you are going to collect a group of receipts and bank them together in one batch, select this option. The receipt will be recorded in the Undeposited Funds account when you click the Record button. Later, when you take the receipts to the bank, you will prepare a deposit slip. It is then that the receipt is transferred from the Undeposited Funds account to the general ledger account that records receipts or payments for that bank account. Instructions on how to perform a bank deposit can be found in the Preparing a new bank deposit page in the Banking section in this Learning Centre.

If you are completing our software practice set you are asked to select the Group with Undeposited Funds option. This is because, at the end of each period, you will be required to prepare a bank deposit slip for a group of receipts collected during the period.
2 Customer Click the search icon to open the Select From List window where you can select the customer from whom you received the payment. Click the Use Customer button to select the customer. Notice that when you select the customer, your MYOB software automatically displays the invoices that the customer is yet to pay. These invoices are known as open invoices.
3 Amount Received Enter the dollar amount received from the customer.
4 Payment Method Click the search icon to open the Select from List window where you can choose the method of payment such as Cash or Cheque by clicking on it. Then, click the Use Method button.
5 Details... Click the details button to open the Applied Payment Details window where you are able to enter information about the receipt, such as the cheque number. Note that the fields displayed in this window change depending on the payment method selected. Once you have entered the required information click the OK button.
6 ID # Accept the identification number (cash receipts reference number) your MYOB software automatically assigns to this cash receipt or enter the number you wish to use.
7 Date Enter the date of the cash receipt.
8 Amount Applied column Find the invoice you wish to apply the receipt to and click in the cell in the Amount Applied column for that invoice. Notice that your MYOB software then automatically populates this cell with the amount received.
9 Out of Balance This cell reports the difference between the amount entered in the Amount Received field and the Amount Applied column. Check that the out of balance amount is $0.00 otherwise you will not be able to record the receipt. If you have just entered an amount in the Amount Applied column or the Amount Received field, you may need to click out of these cells before your MYOB software recognises the amount you have entered into those fields and automatically updates the Out of Balance field.
10 Record Check that the details entered into the Receive Payments window are correct and the click the Record button to record the receipt.
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Recording cash sales with a sales invoice

The process to record a cash sale is the same process as recording a part cash and part credit sale. First, the sale is recorded like a credit sale using the in the Sales - New Item window. Then, the cash receipt is recorded in the Receive Payment window. The only difference is that you record the full amount of the invoice in the Receive Payment window rather than a partial cash receipt.

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