AccountEdge tech tips
Add a message to your invoices — November 2017
Whether it’s “Merry Christmas!”, “Happy Holidays!” or “We’re closed over Christmas”, why not add a personal message to your end of year invoices? It’s a great way to spread some cheer or announce business changes.
There’s a set of default comments that come with AccountEdge. You can modify these or add some more. Access the comments from the Lists menu > Sales & Purchases Information > Comments.
When you’re entering an invoice, select your comment.
Wage advances — October 2017
“I want it, and I want it now!”
So said a certain little girl when visiting a chocolate factory. But she’s not alone. Some employees may request future wages paid in advance – particularly as the silly season approaches.
AccountRight makes it easy to pay a wage advance, then withhold the amount from a future pay to ‘repay’ the advance.
All you need to do is set up is an asset account, a wage category, and a deduction category. You’ll also be able to keep track of what’s been paid in advance and how much has been repaid.
For all the details, see this AccountEdge help tip.
A wage advance might not be a golden ticket, but it’s a sweet deal for you and your employees.
Update AccountEdge for the latest MAC OS — September 2017
On 26 September Apple is releasing its latest MAC operating system: OS X 10.13 High Sierra.
If you’re using the latest AccountEdge version, you might need to install a small patch to ensure AccountEdge is compatible with OS X 10.13 High Sierra.
- AccountEdge Pro v16.5
AccountEdge Network Edition v16.5
AccountEdge Basics v5
To check for the update in AccountEdge, go to the AccountEdge menu and choose Check for Product Updates. A message like this will display:
Just click Install Update to make it happen.
If no update message appears, you’ve probably already installed it. To check, go to the AccountEdge menu and choose About AccountEdge, then check the Release info.
After installing the update, AccountEdge Pro and Network Edition will be Release 21.4.8.
AccountEdge Basics will be Release 21.4.1
Preventing credit card fraud — August 2017
Whether you trade online or offline, your business is always at risk of fraudulent transactions resulting from stolen credit cards or other buyer scams.
But don’t worry – here are a few things to look out for to protect your business and minimise the risk of customer disputes and chargebacks.
- Is the customer placing an unusually large order, or large quantities of orders in a short period of time?
- Is the order being paid for using multiple cards? This could suggest the buyer is trying to avoid card limits.
- Do you have an order where the shipping address is different to the billing address?
- Are you receiving multiple orders to different customers at the same address, or is the address from an unusual location?
- Is it a large order or expensive goods where the customer requests next-day or expedited shipping?
- Can’t contact the customer via phone or email?
- Has the customer asked you to pay for freight which they’ll reimburse later?
While these activities won’t always be fraudulent, if it seems suspicious it’s worth taking the time to check.
Amending payment summaries in AccountEdge — July 2017
Made a mistake on your payment summaries? Left something out? No problem – you can run the Payment Summary Assistant again to generate updated payment summaries to provide to your employees.
What about the EMPDUPE file?
If you haven’t submitted the EMPDUPE file to the ATO, running the Payment Summary Assistant again will generate a new EMPDUPE file which you can lodge electronically with the ATO.
If you have already submitted the EMPDUPE file to the ATO, you won’t be able to generate an amended EMPDUPE file from AccountEdge.
Instead, you’ll need to complete a manual payment summary form (available from the ATO) to lodge the updated information. On this form you’ll need to place an X in the box indicating it’s an amended payment summary.
For more information on correcting a mistake on a payment summary, visit the ATO website.
Year-end made simple
The end of the financial year is a busy time for everyone, so who wouldn’t want a helping hand?
We have lots of EOFY resources to get you through. To start with, here are some handy videos:
For step-by-step instructions, the AccountEdge help has got you covered:
If you run into trouble, visit help.myob.com for access to all our videos, help articles, tips and troubleshooting info.
The community forum is also a great resource with hundreds of experts who are happy to share their insights and answer your questions.
A Super Idea!
Process your next super guarantee early (before June 30), to qualify for a tax deduction in the 2016/17 year!
To do this, simply submit your super payments via PaySuper, or MYOB’s super portal by MYOB’s processing deadline of 25 June.
Find more great EOFY tips and tricks to help you through at our EOFY hub.
Viewing and applying credits & debits in sales and purchases
There’s an awesome new feature in AccountEdge which makes it easier to manage credits and debits.
When entering an invoice, if the customer you’ve entered has credits on file, the total amount of the credits will appear in the upper right hand corner of the invoice.
You can access the credits by clicking on the zoom arrow before the amount.
The Sales Register – Returns & Credits view will appear showing a list of the credits on file. You can then apply the credits to the invoice or pay a refund.
Upon recording a sale, if the preference is set to warn you if a customer has an outstanding credit when recording a sale, you’ll have the option to apply the credit to the sale being created.
When entering a purchase, you’ll have the same options to view the open debit amount on the purchase as well as apply the debit to this purchase or another purchase.
Work with AccountEdge email templates
In the latest versions of AccountEdge (AccountEdge Pro/Network Edition v16 and AccountEdge Basic v5), you can customise the templates used when sending emails.
This lets you add that personal touch to your emails, which better reflect you and your business.
Not only can you personalise your email subject and message, but you can now include data fields (bits of information from your company file, like a contact’s [First Name] or your [Co Name]).
Email templates can be created for sales, purchases, statements, receipts, payment notifications, pay slips as well as a new set for emailing anyone from the Card File.
You can set up as many templates as you like, and choose the template you want to use when emailing.
How do you process a customer refund in RetailManager?
For example, let’s say a customer has purchased a $129 coffee percolator on the account they have with you as a supplier – only now they decide to return the item for a full refund.
First, enter a negative sale. When entering the sale, choose the same stock item, and enter -1 for the quantity (making sure that the price is the same price that it was originally sold at).
In the Payment Details section, choose Account(as you would have done for the original account sale).
When the sale has been recorded, there’s one last step: pay these two sales against each other so they disappear from the Debtor Payments window.
Press Shift+F6 or choose Debtor Payments from the Transaction menu. Enter your staff number and the customer’s number. You’ll see both transactions listed: one for $129 and one for $-129.
Now just pay $129 on the first line and $-129 on the second line (as shown above). Commit the transaction without selecting a payment method.
This will clear both of the transactions from Debtor Payments, without you needing to receive any payment.
Backpacker tax and AccountEdge
From 1 January 2017, tax rates changed for working holiday makers who are in Australia on a 417 or 462 visa. This new tax rate is commonly known as the ‘backpacker tax’. To use this new tax rate, you needed to register with the ATO by January 31.
If you didn’t register but need to pay working holiday makers, you’ll need to assign them the applicable Foreign Resident tax table. If you’re not sure which tax table to use, check with the ATO.
We’ll be releasing an update later this year to cater for the new tax rate. Until then you can pay working holiday makers using the Withholding Variation tax table set to the applicable rate.
For all the details on setting this up, see our help topic Withholding the ‘backpacker tax’ in AccountEdge.