MacFormat 1994 November

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Other Sales ÀáCustomerÀá You must select a customer for this sale. Customers are those card file entries you labeled 'Customer.' See Selecting From a Search List in Chapter 1. ÀáNote:Àá If this is a cash sale and you do not track the sales activity for this customer, create a new customer card called something like 'Cash', or 'MasterCard.' If this is a credit sale, you‚Äôre better off adding this customer to your card file, so you can track the receivable balance. ÀáSales NumberÀá The sales number identifies this transaction within the Sales & Receivables Journal. M.Y.O.B. sorts Sales & Receivables Journal transactions by number within date. You may enter up to 8 characters, using any combination of numbers and letters. M.Y.O.B. provides a default sales number with the prefix SJ (for Sales & Receivables Journal) followed by a 6-digit number. M.Y.O.B. allows duplicate journal entry numbers, however it is not recommended. ÀáDateÀá All transactions within the Sales & Receivables Journal are sorted by transaction date. You may not enter a date prior to the conversion date or in a prior fiscal year. If you enter a future date, M.Y.O.B. accepts it, but only after warning you that the date is probably in error. See Chapter 1‚ÄîUsing M.Y.O.B. ÀáMemoÀá Enter whatever you‚Äôd like. Memos can be up to 255 characters, but because of report display limitations, it is most useful to limit your memos to 40 or 50 characters. ÀáAccount NumberÀá You must select an account. Since this is a Sales & Receivables Journal entry, it is usually an income account. Any sales tax should be allocated to your sales tax payable (liability-type) account. To select an account, see Selecting From a Search List in Chapter 1. If you need to enter a new sales account, click the New Account button on the detail accounts dialog and M.Y.O.B. zooms to Chart of Accounts. Enter the account information and press Enter or click OK. The window disappears and you‚Äôre back at the Account Number field. Type the new account number and press Tab. The new account is selected, its name appears and you jump to the Amount field. ÀáAmountÀá Enter a dollar amount. M.Y.O.B. allows you to type the dollar amount using numbers, commas, periods and dollar signs. Improperly formed amounts are disallowed and decimal amounts are rounded to the nearest penny. Since M.Y.O.B. balances positive amounts with a debit to your linked receivables account, any positive number entered is treated as a credit. If you‚Äôre entering a return or sales adjustment, use a negative amount. Negative amounts reduce (debit) the selected account. If there is a negative balance due, the linked receivables account is credited. ÀáNote:Àá A negative balance due creates a credit sale. Use Settle Credits to process a refund or apply the money to another receivable. ÀáNote:Àá An account without a dollar amount is not recorded as part of the journal entry. ÀáJobÀá If the selected account is an income, expense, cost of sales, other income or other expense account, you can assign the amount to a job (see Jobs List in Chapter 8). Type the job number and press Tab. If you are unsure of the job number, press Command-L to see the job list. Select a job from the job list or click New Job to create a new one. ÀáNote:Àá If you need to assign an amount from a single account to more than one job, enter the account more than one time. Say, for example, you have $100 credit to widget sales and you need to assign $30 to job 12 and $70 to job 43. Enter two credits to widget sales, one for $30 and the other for $70. ÀáNote:Àá Upon entering the complete sale, use the down arrow to jump to the Paid Today field. ÀáPaid TodayÀá When you have entered the details of the sale, use the down arrow to jump to the Paid Today field. If this is a full or partial cash sale, enter the amount paid here. This amount is deposited in your linked checking account and recorded in the Cash Receipts journal. ÀáSalespersonÀá M.Y.O.B. can assign this invoice to a salesperson. This is optional. If you do not wish to assign this sale to an employee leave the field blank. Since this is an optional field, pressing Tab or Return does not display your card file list of employees. To select a salesperson, you must type a few letters of their last name, press Command-L, or click the card file icon. ÀáNote:Àá If assigned, the salesperson‚Äôs name appears on the invoice. If you also wish to compile the sales history of a salesperson, you must check the Track Sales History checkbox on the employee‚Äôs card. ÀáBalance DueÀá A positive balance due increases (debits) your linked receivables account. A positive balance due also creates an open receivable. When the customer pays all or part of this balance, use Apply a Payment to settle this receivable. A return or adjustment usually creates a negative balance due. A negative balance due decreases (credits) your linked receivables account. The sale becomes a credit sale. Use Settle Credits to process a refund or apply the money to an open receivable. ÀáRecordÀá Positive amounts in the detail of the sale are recorded as credits to the named accounts. Negative amounts are debits. If there‚Äôs a positive balance due, it‚Äôs added to the receivable balance for this customer and a new open receivable is created. When the customer pays their bill, use Apply a Payment to settle this receivable. ÀáNote:Àá A negative balance due reduces (credits) the customer's receivable balance and creates a credit invoice. Use Settle Credits to process a refund or apply the money to another receivable. If you entered an amount in Paid Today it is deposited in your linked checking account.