Join Elizabeth Haverfield for an in-depth discussion in this video Creating service invoices, part of MYOB AccountRight Essential Training.
Service invoices are used to charge customers for services that are labor or time specific. We'll create a service invoice for Stevenson & Co, who need to be invoiced for some special cleaning that was a once-off job. Commence by clicking onto the sales command center and then entering sales. In the top left-hand corner, we need to select a status. In our drop-down box we have quotes, orders or invoices. Let's leave it as invoice for now.
In the customer field, click onto the drop-down box and nominate Stevenson and Co. There are a number of different layouts that can be selected by clicking onto the layout button towards the bottom of the screen. The service layout is the free form layout that allows unique data to be typed into the description area. For example when goods or services are sold that are not part of the business inventory. Item, we would use this item layer for the sale of goods or services in the item list.
For example, inventory items, or non inventory items such as labor charges. Professional; this professional layout is similar to a service, except a date column is added to meet the requirements of some industries that need to record the date when the service happened. Time billing, is used when are billing a customer from an activity list with set pricing. And Miscellaneous is used to record a sale for which no template printed form is available.
Let's nominate service for today, then click OK. Click onto the arrow beside terms, which are set for net 14 days currently. This screen shows the standard credit term set up for Stevenson and Co as a customer card. This screen enables the credit terms to be changed for just this particular invoice. We'll click OK for now without making any changes. The payment is due in a given number of days of 14. We'll click onto OK.
Let's ensure that our tax inclusive tick is switched on, and go to the invoice number and type 1001, and tab down the date. It needs to be the 2nd of January, and tab again. We'll go past the customer purchase order number at this stage and tab to the description. We need to type the description of what was carried out, washing of walls in reception. Tab across to the account number. To display the list of all the different accounts, because we're not sure what fourth income 2100 means, click onto the drop-down box. We now need to nominate General Cleaning 42400 to use the account. Tab across to the amount and type in 450.
Tab again because our tax inclusive tick is turned on and our tax code of GST is nominated, $40.91 is being calculated for us. Here's a great little button to help you. Spell check. If we click onto it (SOUND) all my typing is complete this time. No spelling mistake, so we just click OK. Finally, we've completed all the entries that we wanted to do in a very simple service invoice for now. So, let's click onto the record button. And we will now return to the command center by clicking Cancel.
Now, let's record another service invoice, 1002 for Stevenson and Co. But, this time let's record that it was paid by check on deliver, COD on the 2nd of January. In the Customer field, back into Intersales, we need to nominate Stevenson and Co. Our next check number is 1002. Our date is already the 2nd of January, and in our description, we need to type. Washing of the walls in the kitchen.
Tab over to the account allocation, and click onto the drop down box. We need to nominate 42400 general cleaning. Tab to the amount and place 100, and tab again. Because our Tax Inclusive tick is on, it's calculated $0.09 of GST. We'll now record that this invoice was paid at the time of delivery. So we need to change the via over here, and we're going to say COD.
We'd also like to go the paid today field, and place $100 in there. Now, the payment method is not EFT, so clicking onto the drop down box, we need to nominate cheque. Use the method, and across from the cheque is a details button. Let's now type in the information from the cheque. A BSB number, tab down to the account name and type in Stevenson and Co, the name from the check, their account number, and over to the check number, which is on the item.
The notes field can have additional information, for example, it was received on the second of January. Click OK to save those check details. One thing I need to show you, we're depositing this check directly into the NAB check account. So now, our balance is zero. Because we have an invoice for $100, paid today, cancelled it out. Another great feature is to go to Edit, and to recap the transaction.
This feature allows you to look at the double-sided entry before it is recorded. We can see that we have $100.91 and $9.09 in our trade debtors on the debits side, and then in our cash receipt, $100. We can also see that we've got a credit going to our general cleaning and GST collected. That's also going over to our NAB check account. So this is our invoice, the source of the document is a sales journal or a cash receipt for the money that is coming in.
Let's close the recap screen and record to save the actual invoice to Stevenson and Co. And now we'll cancel back to the command centre.
- Creating a company file
- Setting up tax codes
- Adding accounts
- Creating customer and supplier cards
- Performing a bank reconciliation
- Recording transactions
- Invoicing a customer
- Processing payments
- Entering and paying bills
- Recording cash sales
- Reconciling check accounts
Skill Level Beginner
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A: As of 2/18/2014, you can download the software from http://partners.myob.com/