From the course: MYOB AccountRight Essential Training

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Overview of entering and paying bills

Overview of entering and paying bills - AccountRight Tutorial

From the course: MYOB AccountRight Essential Training

Overview of entering and paying bills

There are three types of purchase transactions which can be created in MYOB AccountRight: Quotes, Purchase Orders, and Bills. Quotes are estimates that are received from a supplier. A quote has no impact on inventory levels and can be changed to an order or a bill when we are ready to buy. Generally, supplier quotes are not entered into MYOB AccountRight. The quote provided by the supplier is kept on file in paper format. Purchase orders can be created using supplier or quantity order details. Purchase orders indicate what is to be supplied. How much it will cost and any particular details about the order. If the order includes a deposit payment, then a transaction will appear in the purchase journal. Bills result from actual purchases. They are recorded with details of the purchase from the supplier invoice, and can be created before or after the goods or services are actually delivered. Stock levels and accounts are updated when a bill is entered, including the datas account. An…

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