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Managing linked accounts

Linked accounts are the default accounts used for various functions in MYOB. They work behind the scenes to make sure that the right accounts are used consistently and correctly. This saves you from needing to choose an account every time you use a function.

There are two types of linked accounts used in MYOB: feature-level and record-level linked accounts.

You can change the default linked accounts and turn some off. However, some feature-level accounts can't be changed or turned off, even if you don't use the feature they're linked to.

There are some linked accounts in MYOB for features that don't yet exist. These are identified below.

Feature-level linked accounts

Feature-level linked accounts are the default accounts that MYOB uses for some of its main features. For example, there’s a linked account for tracking receivables (your trade debtors) and a banking account for receiving customer payments. So whenever you record a credit sale, MYOB knows which account you use to track what customers owe you, and will update it automatically. Likewise, when you receive a customer payment, the linked bank account you’ve selected will be used by default.

You can set or change feature-level linked accounts by going to the Accounting menu and choosing Manage linked accounts. From here you can set up the following linked accounts.

 

Payroll

Choose your country to learn more about the payroll linked accounts:

Record-level linked accounts

Accounts linked at the record level are those that you’ve selected as the default accounts used for particular records, like inventory items or pay items. For example, when setting up an inventory item, you can choose a default account to use for tracking sales of that item, and a different account for tracking purchases of that item. Likewise, when setting up wage pay items, you can choose to track payments of that wage pay item by using a specific expense account.

Add new accounts on-the-fly

Click the dropdown arrow for a linked account and choose Create account. Enter the new account's details and click Save. You can always go back later and edit the account details.

Create account shortcut on linked accounts dropdown

  FAQs